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719 N Madison Ave, Los Angeles, CA 90029
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719 N Madison Ave Los Angeles, CA 90029

$1,890,000 Sold Price as of 08/05/2022
  • 8 Beds
  • 7 Baths
  • 3,918 Sq.Ft.
Sold
$1,890,000 Sold Price as of 08/05/2022 Refinance Your Mortgage
Map preview of 719 N Madison Ave, Los Angeles, CA 90029

Property Overview: 719 N Madison Ave Los Angeles, CA has 8 bedrooms, 7 bathrooms, 3,918 living square feet and 6,398 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: I am pleased to offer the opportunity to acquire 719 North Madison Avenue, a seven-unit multifamily community located in the thriving Virgil Village neighborhood of Los Angeles. Virgil Village provides a unique edge and array of popular eateries and locally owned retail which makes this neighborhood one of the most sought-after markets in Los Angeles. The subject property is an appealing bungalow-style apartment community that has been well-maintained by current ownership. Constructed in 1924, the property consists of six one-bedrooms and one two-bedroom unit on a 6,398 square foot lot. The property is also located in an opportunity zone which is expected to draw significant capital into the market and drive rents and values.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 5 minutes ago | Last updated: August 9th, 2022 | Source CRMLS | DOM: 231

Home details

Lot Sq. Ft
6,398
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21793234
City
Los Angeles
County
Los Angeles
Time on Site
948 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,482
  • Total Rent: $1,482
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,200
  • Total Rent: $2,200
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,470
  • Total Rent: $1,470
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,074
  • Total Rent: $1,074
  • Pro Forma/Market Rent: $1,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.26%
  • Gross Rent Multiplier: 14.74
  • Gross Scheduled Income: --
  • Net Operating Income: $82,973
  • Gross Operating Income: $128,343
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 719 N Madison Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 7
  • Has Parking
  • Parking Features: Garage, Uncovered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 5539021002
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: North of Melrose, Between Virgil and Vermont Avenue
View more facts & features

Local Los Angeles Agent

Sale History for 719 N Madison Ave

Last sold for $1,890,000 on August 5th, 2022

  • October, 2021

  • Oct 8, 2021

    Date

    Active

    CRMLS: 21793234

    $1,950,000

    Price

  • July, 2017

  • Jul 18, 2017

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2004

  • Apr 19, 2004

    Date

    Sold (Public Records)

    Public Records

    $500,000

    Price

Show More

Tax History for 719 N Madison Ave

Assessed Value (2020): $1,147,739
Year Land Value Improved Value Assessed Value
2020 $650,764 $496,975 $1,147,739

Home Value Compared to the Market

This property vs the competition

719 N Madison Ave sold on August 5, 2022 for 63.87% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $497.7 per/sqft which puts the price per square foot 34.08% lower than the current median sale per square foot for the city of Los Angeles.

About 719 N Madison Ave

Detailed summary of property

719 N Madison Ave is a multi family that recently sold in Los Angeles, CA 90029. This multi family property offered 8 bedrooms, 7 bathrooms, roughly 3,918 living square feet, and sits on an approximately 6,398 square foot lot. 719 N Madison Ave was first listed on ArdentRealEstateGroup.com on October 8, 2021. The homeowner sold the property for $1,890,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 63.87% higher than the current median priced home. Local homes that are currently for sale include 152 S Berendo St, 152 S Berendo St and 132 S Kenmore Ave. While the average home in Los Angeles, CA is selling in 93 days, 719 N Madison Ave has a days on market of 231 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 719 N Madison Ave Los Angeles, CA 90029 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 719 N Madison Ave

Public county record property details
Beds
8
Baths
7
Year built
1924
Sq. Ft.
3,918
Lot Size
6,385
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
453,455
APN
5539-021-002

The source for these homes facts are from public records.

90029 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,200,000
Median List Price/Sq.Ft.
$794
Median Sold Price
$1,049,000
Median Sold Price/Sq.Ft.
$1,042
Total Inventory
37
Median Sale to List Price %
95.36%
Avg Days on Market
38
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (0%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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