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1296 S Citrus Ave

7 Unit Apartment Building $1,699,000 ($242,714/Unit) 4.30% Cap Rate Los Angeles, CA 90019

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Investment Highlights

Six oversized one bedroom one bath units averaging appx. 900 sf
Individual washer and dryer in each unit
6 total parking spaces (4 carports and 2 garages spaces)

Sold with approved plans to build a two-bedroom/two-bathroom ADU (est. rent $4,000/month)
Desirable Mid-Wilshire submarket that is walkable to the Midtown Shopping Center, Sprouts, Target, and Starbucks.
7,052 sf corner lot development opportunity zoned R3

Executive Summary

We are proud to present 1296 South Citrus Avenue, a prime 6-unit investment opportunity in the highly desirable Mid-Wilshire submarket! Situated on a spacious 7,052 sq. ft. corner lot, the property features six generously sized 1-bedroom, 1-bathroom units, each equipped with in-unit washers and dryers. This property offers an assumable loan of approximately $720,000 at a competitive 3.94% interest rate, fixed through November 2026. Adding further value, the property includes approved plans for a 2-bedroom, 2-bathroom Accessory Dwelling Unit (ADU), with an estimated rental potential of $4,000 per month. Buyer must accommodate for the seller's 1031 exchange.

Financial Summary (Actual - 2024)	Annual	Annual Per SF
Gross Rental Income	$113,229	$20.82
Other Income	-	-
Vacancy Loss	$3,397	$0.62
Effective Gross Income	$109,832	$20.20
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$36,695	$6.75
Net Operating Income	$73,137	$13.45

Financial Summary (Actual - 2024)

Gross Rental Income
Annual	$113,229
Annual Per SF	$20.82

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$3,397
Annual Per SF	$0.62

Effective Gross Income
Annual	$109,832
Annual Per SF	$20.20

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$36,695
Annual Per SF	$6.75

Net Operating Income
Annual	$73,137
Annual Per SF	$13.45

Property Facts

Price	$1,699,000	Apartment Style	Low Rise
Price Per Unit	$242,714	Building Class	C
Sale Type	Investment	Lot Size	0.16 AC
Cap Rate	4.30%	Building Size	5,438 SF
Gross Rent Multiplier	15.01	Average Occupancy	100%
No. Units	7	No. Stories	2
Property Type	Multifamily	Year Built	1927
Property Subtype	Apartment	Parking Ratio	1.1/1,000 SF

Price	$1,699,000
Price Per Unit	$242,714
Sale Type	Investment
Cap Rate	4.30%
Gross Rent Multiplier	15.01
No. Units	7
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.16 AC
Building Size	5,438 SF
Average Occupancy	100%
No. Stories	2
Year Built	1927
Parking Ratio	1.1/1,000 SF