Am thrilled to announce the completion of yet another apartment repositioning project, this one the 10 unit front structure at 807 N. Madison.
This deal has an interesting back-story. I helped the owners buy the building way back in 2012, pretty early in the history of Adaptive.
In many ways, it was a typical Adaptive deal, in the sense that the building was pretty screwed-up but also extremely cheap.
The original intention of the owners was to operate the building in its original condition while waiting for the neighborhood to improve.
However, the tenants were so horrific (ask me for stories sometime in person; they’re too terrible to put on the internet) that we ended up evicting most of them one-by-one, mostly for non-payment of rent. The rest eventually left voluntarily.
So, around a year ago, the owners decided to move forward with repositioning the building. And this is the result:
If you or anyone you know is looking for a very reasonably priced 1 bed / 1 bath in East Hollywood, near Sunset Junction and Los Feliz, shoot an email to ilana [at] adaptiverealty [dot] com.