1296 S Citrus Avenue, Los Angeles, CA 90019 (MLS # 24362801)
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!
Property Type(s):
Residential Income
|
Last Updated
|
4/15/2024
|
Year Built
|
1927
|
|
Community
|
Hancock Park-Wilshire
|
Garage Spaces
|
2.0
|
|
County
|
Los Angeles
|
Price History
|
Prior to Apr 15, '24
|
$1,799,000 |
| Apr 15, '24 - Today |
$1,675,000 |
Additional Details
| AREA |
Hancock Park-Wilshire |
| BUYER'S BROKERAGE COMPENSATION |
1.500 % |
| GARAGE |
Detached Carport, Door-Multi, Garage, Yes |
| HEAT |
Wall Furnace |
| LOT |
7052 sq ft |
| PARKING |
Door-Multi,Detached Carport,Garage |
| STORIES |
2 |
| ZONING |
LAR3 |
Location
Listed with Realty Investment Advisors, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/29/24 2:28 AM PDT and /or other sources. 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
This IDX solution is (c) Diverse Solutions 2024.
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