Property listed by Equity Union, Eliyahu Appel 818-989-2000
$1,490,000
The Appel Group is proud to present the exclusive listing of 1296 S. Citrus Ave & 493 San Vicente Blvd, a six-unit multifamily asset in the heart of Los Angeles's coveted Mid-Wilshire submarket. Built in 1927, this french provincial style, two-story property pairs timeless architectural character with modern-day comfort, offering… Read More investors a rare combination of stable in-place income, meaningful rental upside, and a clear path to additional density. Located steps from the Miracle Mile and Museum Row, 1296 S. Citrus Ave stands as a well-positioned, income-producing asset in one of Los Angeles's most connected and culturally rich neighborhoods. The property features six spacious one-bedroom, one-bathroom residences, each appointed with hardwood floors, wall-mounted heating and air conditioning, dual- pane windows, and updated kitchens and bathrooms, with select units opening through private walk-up entrances. Four carport spaces and a two-car garage provide secure, convenient parking for residents, further enhancing the asset's long-term appeal. The story doesn't end at curb appeal. Ready-to-Issue (RTI) plans are already secured for a two-bedroom, two-bathroom ADU, opening a defined path to a seventh income-producing unit and additional upside. In-place rents also sit meaningfully below market, giving the numbers their own story of durable income and embedded growth as units turn over. Whether the strategy is aggressive value-add or long-term hold, this asset delivers upside rarely available at this basis in Mid-Wilshire. The location is equally compelling. 1296 S. Citrus Ave scores an impressive 88 on Walk Score, meaning residents can leave the car behind for daily errands, dinner, and entertainment. Neighborhood favorites like All Season Brewery, Fortune House, and Little Miss Cafe are all within easy reach, while Ralphs at Wilshire Boulevard and Hauser Boulevard keeps grocery runs simple. World-class culture waits close by too, with the Los Angeles County Museum of Art, La Brea Tar Pits and Museum, and Petersen Automotive Museum anchoring nearby Museum Row, and the Wilshire Boulevard corridor connecting residents to Koreatown, Downtown Los Angeles, and the Westside in minutes. For an investor seeking durable in-place income paired with a defined path to additional upside, 1296 S. Citrus Ave offers a compelling opportunity in one of Los Angeles's most established and well-connected submarkets, a six-unit asset with modernized interiors, secured ADU entitlements, and embedded rent growth in the heart of Mid-Wilshire. Read Less
Listing Snapshot
Days Online
1
Last Updated
Beds
6
3/4 Baths
6
Square Ft.
5,438
Lot Size
0.16 Acres
Year Built
1927
MLS Number
26876787
Additional Details
Appliances & Equipment
Disposal, Refrigerator, Dryer, Washer
Building
Built in 1927, Living area: 5438.0, 1 building, 2 stories, Levels: Two
Garage
2 spaces
Heating
WallFurnace
Income
Gross Income: $133,569, Net Operating Income: $89,358
Lot
0.1618 acres
Parking
4 carport spaces, 6 total parking spaces, DetachedCarport
Taxes
Parcel Number: 5084026024, Zoning: LAR3
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Based on information from California Regional Multiple Listing Service, Inc. as of 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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
