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1296 S Citrus Ave, Los Angeles, CA 90019
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1296 S Citrus Ave Los Angeles, CA 90019

$1,675,000
  • 6 Beds
  • 6 Baths
  • 5,438 Sq.Ft.
For Sale
$1,675,000 Get Pre-Qualified
Map preview of 1296 S Citrus Ave, Los Angeles, CA 90019

Property Overview: 1296 S Citrus Ave Los Angeles, CA has 6 bedrooms, 6 bathrooms, 5,438 living square feet and 7,052 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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 | BRE #01987941 | Realty Investment Advisors, Inc.
Co-listed by Benjamin J. Hsiang | BRE #01438644 | Realty Investment Advisors, Inc.
Last checked: 3 minutes ago | Last updated: April 23rd, 2024 | Source CRMLS | DOM: 69
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Home details

Lot Sq. Ft
7,052
HOA Dues
$0/mo
Year built
1927
Garage
2 Car
Property Type:
Multi Family
Status
Active
MLS#
24362801
City
Los Angeles
County
Los Angeles
Time on Site
74 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $9,568
  • Pro Forma/Market Rent: $17,970
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.48%
  • Gross Rent Multiplier: 14.59
  • Gross Scheduled Income: --
  • Net Operating Income: $73,474
  • Gross Operating Income: $111,369
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1296 S Citrus Ave

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Property Details for 1296 S Citrus Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Garage - Two Door, Detached Carport
Lot Information
  • Lot Size Source: Estimated
Property Information
  • Total # of Units: 6
  • Parcel Number: 5084026024
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: W on S. San Vicente Blvd, North on S. Citrus Ave
View more facts & features

Local Los Angeles Agent

Sale History for 1296 S Citrus Ave

Last sold for $1,007,010 on July 10th, 2014

  • March, 2024

  • Mar 4, 2024

    Date

    Active

    CRMLS: 24362801

    $1,799,000

    Price

  • November, 2023

  • Nov 11, 2023

    Date

    Expired

    CRMLS: 223004105

    $1,949,000

    Price

  • Oct 11, 2023

    Date

    Active

    CRMLS: 223004105

    $1,949,000

    Price

  • Listing provided courtesy of CRMLS

    A GOLDENOPPORTUNITY $150,000 UPSIDE APPROVED ADU PERMITS ONE FULLY RENOVATED UNIT FULLY FURNISHED CAN BE DELIVERED VACATE DETACHED GARAGE, ASUMABILE CHASE LOAN $720,000 at 3.94%DONT MISS THIS OPPORTUNITY

  • May, 2021

  • May 10, 2021

    Date

    Active

    CRMLS: 21729536

    $2,097,000

    Price

  • Listing provided courtesy of CRMLS

    Great Upside income and incredible opportunity of the most apricated zip code in the USA , Seller willing to carry 1st ,up to $1,400,000 so you can come in with low down payment. 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. ADU Unit quote of $188,000 available for the garage to be converted into a two-bedroom unit.

  • January, 2021

  • Jan 14, 2021

    Date

    Expired

    CRMLS: 20597410

    $1,999,500

    Price

  • Oct 26, 2020

    Date

    Active

    CRMLS: 20597410

    $1,999,500

    Price

  • Listing provided courtesy of CRMLS

  • December, 2019

  • Dec 1, 2019

    Date

    Expired

    CRMLS: 19512658

    $2,100,000

    Price

  • Sep 19, 2019

    Date

    Active

    CRMLS: 19512658

    $2,100,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the opportunity to acquire a two-property portfolio located at 1296 South Citrus Avenue and 1430 Sherbourne Drive, a six-unit and five-unit value-add opportunity located in prime submarkets of Los Angeles. The properties can either be purchased as a portfolio or individually.Originally constructed in 1927, 1296 South Citrus Avenue offers investors the ability to acquire a charming 1920s vintage apartment complex in the heart of Mid-Wilshire with a significant value-add component. Situated on a 7,052 square foot parcel, the asset consists of one two-story building with four detached carports and two garage parking spaces located in the rear of the building. The building consists of six spacious one bedroom units averaging 855 square feet with in-unit washer/dryer and private walk-up entrances in select units.

  • July, 2014

  • Jul 10, 2014

    Date

    Sold (Public Records)

    Public Records

    $1,007,010

    Price

  • December, 2011

  • Dec 29, 2011

    Date

    Sold (Public Records)

    Public Records

    $625,006

    Price

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Tax History for 1296 S Citrus Ave

Assessed Value (2020): $1,106,627
Year Land Value Improved Value Assessed Value
2020 $769,255 $337,372 $1,106,627

Home Value Compared to the Market

This property vs the competition

1296 S Citrus Ave is listed 34% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $777 and this home is listed at $308.02 per/sqft which puts the price per square foot 60.36% lower than the median price per square foot for the city of Los Angeles.

About 1296 S Citrus Ave

Detailed summary of property

1296 S Citrus Ave is a multi family located in Los Angeles, CA 90019 and is currently for sale. This multi family property offers 6 bedrooms, 6 bathrooms, roughly 5,438 living square feet, and sits on an approximately 7,052 square foot lot. 1296 S Citrus Ave was first listed on ArdentRealEstateGroup.com on March 5, 2024. The homeowner is currently asking $1,675,000 and was originally asking $1,799,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $777. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 34% higher than the median priced home. Local competing homes currently for sale include 1089 S Orange Dr, 1504 S Mansfield Ave and 1430 S Orange Dr. While the average home in Los Angeles, CA is selling in 92 days, 1296 S Citrus Ave has a days on market of 69 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 1296 S Citrus Ave Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1296 S Citrus Ave

Public county record property details
Beds
6
Baths
6
Year built
1927
Sq. Ft.
5,438
Lot Size
7,052
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
88
APN
5084-026-024

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,599,800
Median List Price/Sq.Ft.
$696
Median Sold Price
$1,620,000
Median Sold Price/Sq.Ft.
$777
Total Inventory
66
Median Sale to List Price %
95.58%
Avg Days on Market
21
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (9.09%), Other (9.09%)

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Recently Sold Homes Near 1296 S Citrus Ave

1288 S Citrus Ave, Los Angeles, CA 90019
$1,600,000 Last Sold Price
4 Beds
4 Baths
4256 Sq.Ft.
1288 S Citrus Ave
Los Angeles, CA 90019
1268 S Citrus Ave, Los Angeles, CA 90019
$1,200,000 Last Sold Price
10 Beds
10 Baths
3336 Sq.Ft.
1268 S Citrus Ave
Los Angeles, CA 90019
1311 S Highland Ave, Los Angeles, CA 90019
$1,275,000 Last Sold Price
8 Beds
4 Baths
3392 Sq.Ft.
1311 S Highland Ave
Los Angeles, CA 90019
1260 S Citrus Ave, Los Angeles, CA 90019
$1,350,000 Last Sold Price
3 Beds
3 Baths
2202 Sq.Ft.
1260 S Citrus Ave
Los Angeles, CA 90019

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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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