1296 S Citrus Avenue
Los Angeles, CA, 90019 $ 1,675,000
Bedrooms6 Baths6.0 Sq 5,438 Monthly Estimate*
$ 11,700
Listed by Realty Investment Advisors, Inc.
for $1,675,000 with 6 bedrooms and 6 full baths. This 5,438 square foot home was built in 1927 on a lot size of 0.1619.
Attention buyers! Huge $125K price reduction! Strong Seller motivation since identifying uplegs for the 1031 exchange. Great chance to purchase a tremendous property with $130k in upside at an unbeatable price! We are proud to present 1296 South Citrus Avenue, a prime 6 unit investment opportunity in the coveted Mid-Wilshire submarket! This property, boasting 1927 construction, offers a unique blend of vintage charm and modern potential. Situated on a spacious 7,052 square foot corner lot, the subject property features six generously sized one-bedroom, one-bathroom units averaging approximately 900 square feet each. Unit 1296 stands out with its fully renovated and fully furnished status, ready for a new buyer to owner occupy or lease out. Additionally, this property comes with approved plans to construct a two-bedroom, two-bathroom Accessory Dwelling Unit (ADU), with an estimated rent potential of $4,000 per month. The construction timeline for the ADU is estimated to be six to eight months, with an approximate cost ranging from $160,000 to $180,000.Each unit is equipped with individual washer/dryer hookups, ensuring convenience and comfort for tenants. The subject property offers six parking spaces on-site and is conveniently located across the street from the Midtown Shopping Center, Sprouts, Target, and Starbucks. Furthermore, the property comes with the added benefit of an assumable loan of approximately $720,000 at a competitive interest rate of 3.94% through November 2026, providing flexibility in financing options. Don't miss out on this rare opportunity to invest in a well-positioned property with significant income potential and approved plans for further expansion. Secure your future returns in this thriving market today!
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FeaturesGeneralHeating WallFurnace
Zoning LAR3
Garage Spaces 2.0
Year Built 1927
Stories 2
Levels Two
Gross Income 114814.0
County Los Angeles
Net Operating Income 73474.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions W on S. San Vicente Blvd North on S. Citrus Ave
City Los Angeles
View Y/N N
Senior Community Y/N N
Total Units 6
MLS Area C18 - Hancock Park-Wilshire
Lot Size Square Feet 7052.0
Private Pool N
Waterfront Y/N N
Carport Spaces 4.0
Carport Y/N Y
Street Name Citrus
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 50
Standard Status Active
Cap Rate 4.48
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ExteriorParking Features DoorMulti DetachedCarport Garage
Total Parking 6.0
Lot Size Area 7052.0
Number of Buildings 1
Spa N
Building Area Total 5438.0
Lot Size Acres 0.1619
Lot Size Units SquareFeet
Lot Size Source Estimated
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Total Bedrooms 6
Electric On Property Y/N N
Total Baths 6
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* Excluded FeaturesList ByRealty Investment Advisors, Inc.Broker
BLalezari@riacre.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $11,700
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,006,100
Percent of Sale Price 20%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
4/16/2024 | $1,675,000 | -6.89% | Price Down |
3/5/2024 | $1,799,000 | | Listed Price |