1296 South Citrus Avenue
1296 South Citrus Avenue
$1,675,000
6
6
5,438
5,438
$308
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...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!
- Listed by Benjamin Lalezari • DRE #01987941 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
- Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
Property Details for 1296 South Citrus Avenue
Zoning
LAR3
Parcel Number5084026024
Total Units6.0
Living Area5438
Source Living AreaVendor Enhanced
AreaHancock Park-Wilshire
Vacancy Rate1
Lot Size Area7052
Location
LISTING UPDATED: 04/23/2024 11:47 AM
Property Details for 1296 South Citrus Avenue
Status | Active |
---|---|
MLS # | 24-362801 |
Days on Market | 56 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1927 |
Lot Size | 0.16 AC / 7,052 SF |
County | Los Angeles County |
Location
Building Information for 1296 South Citrus Avenue
Stories2Residences-Year Built1927Building Size-Lot Size0.16 AC / 7,052 SF
Payment Calculator
$10,399 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1296 South Citrus Avenue
Property History for 1296 South Citrus Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1296 South Citrus Avenue
Taxable ValueLand$808,623Additions$354,637Total$1,163,260
Tax Record2023$15,093 ($1,258 / month)
Home Facts
Total Finished SqFt5,438 SqFtAbove Grade Finished SqFt5,438 SqFtLot Size7,052 SqFtStyleMulti-Family Res (5+ Units)Year Built1927ZoningLAR3CountyLOS ANGELESAPN5084-026-024
Schools near 1296 South Citrus Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Charter - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 5 |
Rating | School | Distance |
---|---|---|
Wilshire Crest Elementary School PublicK to 5 | ||
Puc Inspire Charter Academy Charter6 to 8 | ||
Los Angeles Senior High School Public9 to 12 | ||
South Shores/Csudh Visual And Performing Arts PublicK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.