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6 Multifamily Units | Rare ADU 7 unit opportunity - Availability Details

1296 S. Citrus Avenue, Los Angeles, CA 90019

  • For Sale $1,997,000
  • Property Type Multi-Family
  • Property Size 5,438 Sqft
  • Lot Size 0.16 Acre
  • Year Built 1927
  • Date Updated Sep 11, 2021
eXp Commercial is pleased to present the opportunity to purchase 1296 S. Citrus Avenue, a 6-unit multifamily community in Los Angeles, CA. Most investors struggle with finding multifamily investment property to purchase with substantial loss to lease upside in rents, ability to add a 7th ADU unit, and located in a next to zero vacancies low inventory market. The subject property is located in the highly desirable Mid-City/Mid-Wilshire (trendy Longwood Highlands) submarket and is just steps away from of Miracle Mile submarket. It is a rare find as it consists of (6) large one-bedroom/one-bath 900 square foot units and a garage that can be converted into a 7th unit with an additional income potential of around $32,400 per year. All units feature a washer and dryer(owner-owned), dual pane windows, dishwasher, disposal, central air conditioning, refrigerator, oven, ceiling fans, and refrigerator. The property features (4) gated carports and (2) garage spaces. There is additional non-metered street parking. Built-in 1927, the property sits on a 7,052 SF parcel, is individually metered for gas (heats hot water, paid by tenant) and the garbage is paid by tenant. The water and sewer are paid for by the owner. Do not disturb tenants. Due to covid-19 restrictions and the sensitivity of the tenants, there will be no interior tours until the property is under contract. Buyer must assume the current Chase loan or pay the prepayment penalty and cooperate with Seller's 1031 exchange or Deferred Sales Trust.
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Location

  • City Los Angeles, CA
  • Neighborhood Mid-Wilshire
  • Zip Code 90019
  • Market Los Angeles

Contacts

broker

Brett Swarts

EXP Commercial | California

(916) 886-2986

Highlights

  • Investment Summary (Do not disturb tenants)
  • Excellent Unit Mix of (6) Large 900 sq ft One-bed One-bath units
  • Value-Add Upside
  • RUBS Implementation
  • Excellent Walkable Score

Frequently Asked Questions

What year was 6 Multifamily Units | Rare ADU 7 unit opportunity built and finished?

6 Multifamily Units | Rare ADU 7 unit opportunity was completed in 1927.

Contact Listing Broker

broker

Brett Swarts

EXP Commercial | California

(916) 886-2986

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