1296 S Citrus Ave, Los Angeles, CA 90019

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 Features