$1,249,000
Welcome to 128 S Madison Ave, a rare opportunity in the heart of Mid-Wilshire offering both immediate livability and exceptional future upside. This charming 3-bedroom, 2-bathroom home spans approximately 1,320 square feet and sits on a R3 prime lot in one of Los Angeles' most sought-after neighborhoods. The existing residence features a functional layout with ample natural light, comfortable living spaces, and strong rental or owner-user potential. Whether you're looking to move in, lease out, or hold as an investment, the property provides flexibility and value from day one. In addition to the main residence, there is a detached guest house in the rear, ideal for use as a home office, guest suite, or potential income-producing unit, adding flexibility and value to the property. A standout feature of this offering is that plans have already been submitted to the city for the development of a 9-unit, 3-story building, currently in the process of approval. This presents a rare opportunity for investors and developers to acquire a property with significant future development potential while generating income in the interim. Ideally located near Silver Lake, Downtown Los Angeles, and the vibrant Mid-Wilshire corridor, the property offers convenient access to shopping, dining, entertainment, and major employment hubs. Perfect for investors, developers, or end-users seeking long-term upside in a prime central location this is a property with both present value and future potential.
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Listed by Arash Pashaei with Keller Williams Beverly Hills (310) 432-6400
Property Type
Single Family Residence
Status
Active
MLS Number
26665323
Year Built
1948
Lot Size
6,242 sq ft