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1260 N Citrus Ave, Los Angeles, CA 90038
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1260 N Citrus Ave Los Angeles, CA 90038

$4,000,000 Sold Price as of 08/30/2019
  • 8 Beds
  • 8 Baths
  • 6,098 Sq.Ft.
Sold
$4,000,000 Sold Price as of 08/30/2019 Refinance Your Mortgage
Map preview of 1260 N Citrus Ave, Los Angeles, CA 90038

Property Overview: 1260 N Citrus Ave Los Angeles, CA has 8 bedrooms, 8 bathrooms, 6,098 living square feet and 8,689 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The opportunity to acquire an iconic building in the heart of Hollywood with views of the Hollywood sign. The offering consists of two 4-unit buildings, side by side, on two separate parcels, 4 units per parcel. A potential investor has the opportunity to secure 30 year fixed residential financing. This property is in one of the most in-demand markets in Los Angeles. Situated on a 0.20 acre lot, with 6,098 SF of rentable square feet, offers investors an upside in rental income by turning over the last unrenovated unit and maximizing rents on all units. Major renovations to the property were completed in 2018 which include a new roof, updated plumbing and electrical, new windows, and seven (7) extensively remodeled units.

Listed by Filip Niculete | BRE #01905352 | Marcus & Millichap
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 28

Home details

Lot Sq. Ft
8,689
HOA Dues
$0/mo
Year built
1939
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19490590
City
Los Angeles
County
Los Angeles
Time on Site
1221 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $876
  • Total Rent: $876
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,600
  • Total Rent: $2,600
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,650
  • Total Rent: $2,650
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.61%
  • Gross Rent Multiplier: 18.34
  • Gross Scheduled Income: --
  • Net Operating Income: $144,566
  • Gross Operating Income: $218,106
  • Improvements Total: $340,000
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1260 N Citrus Ave

Interior Features
Cooling Information
  • Has Cooling
  • See Remarks
Laundry Information
  • Has Laundry
  • See Remarks
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Other
Lot Information
  • Lot Size Source: See Remarks
Property Information
  • Total # of Units: 8
  • Parcel Number: 5532006023
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Part of Association
  • Association Amenities: Other
Location / Neighborhood
Location Information
  • Directions: Fountain & Citrus
View more facts & features

Local Los Angeles Agent

Sale History for 1260 N Citrus Ave

Last sold for $4,000,000 on August 30th, 2019

  • August, 2019

  • Aug 30, 2019

    Date

    Sold

    CRMLS: 19490590

    $4,000,000

    Price

  • Aug 15, 2019

    Date

    Pending

    CRMLS: 19490590

    $4,000,000

    Price

  • Jul 18, 2019

    Date

    Active

    CRMLS: 19490590

    $4,000,000

    Price

  • August, 2019

  • Aug 30, 2019

    Date

    Sold (Public Records)

    Public Records

    $4,000,000

    Price

  • July, 2017

  • Jul 26, 2017

    Date

    Sold (Public Records)

    Public Records

    $2,550,000

    Price

Show More

Tax History for 1260 N Citrus Ave

Assessed Value (2020): $1,700,520
Year Land Value Improved Value Assessed Value
2020 $1,100,000 $600,520 $1,700,520

Home Value Compared to the Market

This property vs the competition

1260 N Citrus Ave sold on August 30, 2019 for 236.13% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $655.95 per/sqft which puts the price per square foot 13.12% lower than the current median sale per square foot for the city of Los Angeles.

About 1260 N Citrus Ave

Detailed summary of property

1260 N Citrus Ave is a multi family that recently sold in Los Angeles, CA 90038. This multi family property offered 8 bedrooms, 8 bathrooms, roughly 6,098 living square feet, and sits on an approximately 8,689 square foot lot. 1260 N Citrus Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $4,000,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 236.13% higher than the current median priced home. Local homes that are currently for sale include 204 N Manhattan Pl, 1015 N Croft Ave and 1005 N Croft Ave. While the average home in Los Angeles, CA is selling in 92 days, 1260 N Citrus Ave has a days on market of 28 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1260 N Citrus Ave Los Angeles, CA 90038 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1260 N Citrus Ave

Public county record property details
Beds
4
Baths
4
Year built
1939
Sq. Ft.
2,530
Lot Size
4,338
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
24
APN
5532-006-023

The source for these homes facts are from public records.

90038 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,299,000
Median List Price/Sq.Ft.
$703
Median Sold Price
$715,000
Median Sold Price/Sq.Ft.
$659
Total Inventory
40
Median Sale to List Price %
79.44%
Avg Days on Market
17
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (50%), Other (0%)

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Recently Sold Homes Near 1260 N Citrus Ave

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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