Description

We are pleased to present 646 N Madison Ave, a 10-unit multifamily investment opportunity in the heart of East Hollywood, Los Angeles, featuring 1988 construction and not subject to LA RSO rent control. Situated in an Opportunity Zone and designated TOC Tier 3, the property offers strong long term investment fundamentals with potential density and development advantages. The building totals approximately 7,134 square feet on a 7,513 square foot lot and features a desirable unit mix of (4) one bedroom one bath units and (6) two bedroom one bath units, appealing to a broad tenant base. The asset includes 21 ground level parking spaces, gated tuck under parking access, and a coin operated shared laundry facility, providing both tenant convenience and additional income potential. With solid in place income and approximately 60% upside in rental income, the property presents a compelling value add opportunity. Based on projected market rents, the property offers an estimated 10.26% market cap rate, positioning 646 N Madison Ave as a rare high yield acquisition in one of Los Angeles’ most consistently strong rental markets.