1296 S Citrus Ave - Apartments FOR SALE


Los Angeles, CA 90019
$1,699,000 USD
424-377-6001
1296 S Citrus Ave, Los Angeles, CA for Sale
$1,699,000 USD
Apartments - FOR SALE
1/35
null | 4.3% Cap Rate

1296 S Citrus Ave
Los Angeles, CA 90019


HIGHLIGHTS

  • Six oversized one bedroom one bath units averaging appx. 900 sf
  • Sold with approved plans to build a two-bedroom/two-bathroom ADU (est. rent $4,000/month)
  • Individual washer and dryer in each unit
  • Desirable Mid-Wilshire submarket that is walkable to the Midtown Shopping Center, Sprouts, Target, and Starbucks.
  • 6 total parking spaces (4 carports and 2 garages spaces)
  • 7,052 sf corner lot development opportunity zoned R3

OVERVIEW

We are proud to present 1296 South Citrus Avenue, a prime 6-unit investment opportunity in the highly desirable Mid-Wilshire submarket! Situated on a spacious 7,052 sq. ft. corner lot, the property features six generously sized 1-bedroom, 1-bathroom units, each equipped with in-unit washers and dryers. This property offers an assumable loan of approximately $720,000 at a competitive 3.94% interest rate, fixed through November 2026. Adding further value, the property includes approved plans for a 2-bedroom, 2-bathroom Accessory Dwelling Unit (ADU), with an estimated rental potential of $4,000 per month. Buyer must accommodate for the seller's 1031 exchange.

FOR SALE DETAILS

PRICE

$1,699,000 USD

PRICE/SF

$312 USD /SF

# OF UNITS

7

PRICE/UNIT

$242,714

CAP RATE

4.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,052 SF

ZONING

LAR3

APN/PARCEL ID

5084-026-024

ASK ABOUT THIS PROPERTY

Benjamin HsiangRealty Investment AdvisorsMore Info
424-377-6001

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Benjamin HsiangRealty Investment AdvisorsMore Info
424-377-6001

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.