557 N Madison Avenue, Los Angeles, California 90004, Los Angeles, 90004 - 2 bed, 1 bath
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557 N Madison Avenue
Los Angeles, California 90004
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
1,657Sq Ft
7,508Lot Size
Property Price
LIST PRICE$1,350,000
EST. MARKET VALUE
$1,288,613
4% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,350,000—positioned above the $1,288,614 Fair Market Value. While the current structure has a Condition Rating of 6, the site’s R3/TOC Tier 3 zoning on a 7,505 sq ft lot offers significant upside for multi-unit development. Featuring a massive 4-car detached garage and 12-space parking capacity, this asset is optimized for density. This is a strategic acquisition ideal for Multi-Family Developers or Buy-and-Hold Investors focused on long-term land value.
Estimated Market Value
$1,288,613
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 557 N Madison Avenue Subject 2 bd · 1 ba · 1,657 sqft · $778 | $1,350,000* List Price | 2 | 1 | 1,657 | $778 | - |
A 178 N Mariposa Avenue Active 3 bd · 2 ba · 1,608 sqft · $746 · 0.7 mi | $1,200,000 List Price | 3 | 2 | 1,608 | $746 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
The property was built in 1940 (84 years old) with no evidence of significant renovations. The listing explicitly markets the site as a 'phenomenal opportunity to redevelop' based on its R3/TOC Tier 3 zoning, indicating the value is primarily in the land. Interior photos show original built-ins and outdated wall heating systems.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7508, living area = 1657.
- High-Density Development Potential
The property is a prime redevelopment opportunity featuring R3 zoning, TOC Tier 3, and ED1 eligibility on a flat 7,505 sq ft lot, allowing for significant multi-unit residential density.
- Exceptional Parking and Storage
Rare for this urban submarket, the property includes a gated driveway and a massive 4-car detached garage with 14-foot ceilings, providing total parking for up to 12 vehicles.
CONSRISKS & DEFICIENCIES
- Dated Existing Improvements
The original 1940s structure is likely under-improved relative to the land value, necessitating either a full-scale renovation or demolition to achieve the property's highest and best use.
- Development-Premium Pricing
The list price reflects the lot's significant development potential rather than the utility of the current 2-bedroom home, which may limit interest from traditional owner-occupant buyers.
About 557 N Madison Avenue
A Phenomenal opportunity to redevelop this 7,505 sq ft flat lot zoned for R3 / TOC Tier 3 / TOIA 2 / ED1. There is an existing 1,657 single family home and a detached garage on the land. This property is in the heart of Los Angeles which is easily accessible directly off the 101 FWY. The property is securely gated and the extensive driveway can accommodate up to 8 cars, plus 4 more in the garage for a total of 12 parking spaces! The oversized garage is a detached building measuring approximately 24 feet wide by 33 feet long with 14-foot-high ceilings! The possibilities for this versatile structure are endless! Imagine a private workshop or an ADU conversion? The spacious backyard has plenty of room so it could possibly be used to build another ADU! This exceptional property is a rare gem and a must see!!! 3D renderings are for illustration purposes only and are not an indication of what the city will approve.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1940
- Lot Size
- 7,508 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,657 | 1,670.836 |
| Lot Size | 7,508 | 6,152.156 |
| Price | $1.35M | $1.34M |
| Price per sq ft | $815 | $807 |
| Built year | 1940 | 1941 |
| HOA | $0 | $238 |
| Days on market | 32 | 56 |
Pricing History
Listed for Sale
Oct 8, 2026
$1,350,000
Initial Listing
Sold
Jun 29, 2021
$1,235,000
Public Record