1296 Citrus Avenue

Los Angeles, CA 90019

$1,675,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $308 / sqft

1927

calendar_month Built

Property Description

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!

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 1296 Citrus Avenue
City Los Angeles
State CA
Zip 90019
County Los Angeles
Listing Agent Benjamin Lalezari DRE#01987941
Co-Listing Agent Benjamin J. Hsiang DRE#01438644
Courtesy Of Realty Investment Advisors, Inc.
MLS 24362801
List Price $1,675,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 7,052
Year Built 1927
DOM 50

Exterior Information

Maps

Listing information courtesy of: Benjamin Lalezari, Benjamin J. Hsiang, Realty Investment Advisors, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 23rd, 2024 at 11:58 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.