1292 1/2 South Citrus Avenue

Los Angeles, CA 90019

$1,750,000
Price
4
Beds
4
Baths
4,320 Sq. Ft.
$405 / Sq. Ft.
4,320
Sq. Ft.
$405
per Sq. Ft.

Description

Discover an exceptional investment opportunity in the heart of the coveted Mid-Wilshire submarket with this rare four-unit property, each offering oversized one-bedroom apartments that average approximately 1,000 square feet. Two of the units will be delivered vacant at close, presenting immediate rental upside potential. The units have been tastefully renovated to combine modern amenities with classic charm, featuring in-unit washers and dryers for added convenience. Situated on a generous 6,000...Discover an exceptional investment opportunity in the heart of the coveted Mid-Wilshire submarket with this rare four-unit property, each offering oversized one-bedroom apartments that average approximately 1,000 square feet. Two of the units will be delivered vacant at close, presenting immediate rental upside potential. The units have been tastefully renovated to combine modern amenities with classic charm, featuring in-unit washers and dryers for added convenience. Situated on a generous 6,000 square foot lot, the property offers ample parking and boasts significant potential for future development. The location is unbeatable-within walking distance to the Midtown Shopping Center, Sprouts, Starbucks, and other local amenities-making it highly desirable for tenants seeking both comfort and convenience. This property represents a prime investment opportunity in one of Los Angeles' most vibrant neighborhoods, offering both immediate income potential and long-term growth possibilities. Don't miss your chance to own a piece of Mid-Wilshire's thriving real estate market.
  1. Listed by Benjamin Lalezari • DRE #01987941 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 1292 1/2 South Citrus Avenue

Zoning
LAR3
Parcel Number
5084026023
Total Units
4.0
Living Area
4320
Source Living Area
Vendor Enhanced
Area
Hancock Park-Wilshire
Vacancy Rate
2
Lot Size Area
6002
LISTING UPDATED: 09/19/2024 02:49 PM

Property Details for 1292 1/2 South Citrus Avenue

StatusActive
MLS #24-435504
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.14 AC / 6,002 SF
CountyLos Angeles County

Building Information for 1292 1/2 South Citrus Avenue

Stories2Residences-Year Built1924Building Size-Lot Size0.14 AC / 6,002 SF

Property Information for 1292 1/2 South Citrus Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $121,056
  • Net Operating Income: $86,296.00
  • Gross Income: $124,800
  • Cap Rate: 4.93%
  • Gross Rent Multiplier: $14.02
  • Total Annual Expense: 34760
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1378
  • Lot Size Square Feet: 6002
Parking Details
Parking Details
  • Parking Garage: Tandem, Uncovered
  • Total Parking: 4
  • Parking Features: Tandem Garage, Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Dryer, Range/Oven, Refrigerator, Washer
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-04-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,600.00
  • Unit Actual Rent: $10,400.00
  • Unit Projected Rent: $11,400.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $210,914.00
  • Assessed Improvement Percent: 29.82
  • Assessed Land Value: $496,275.00
  • Assessed Land Percent: 70.18
  • Assessed Total Value: $707,189.00

Property History for 1292 1/2 South Citrus Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1292 1/2 South Citrus Avenue

Taxable ValueLand$506,200Additions$215,132Total$721,332
Tax Record2023$9,109 ($759 / month)
Home Facts
Total Finished SqFt4,320 SqFtAbove Grade Finished SqFt4,320 SqFtLot Size6,000 SqFtStyleQuadraplexYear Built1924ZoningLAR3CountyLOS ANGELESAPN5084-026-023

Schools near 1292 1/2 South Citrus Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 12
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Wilshire Crest Elementary School
PublicK to 5

Los Angeles Senior High School
Public9 to 12

New Los Angeles Charter School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1292 1/2 South Citrus Avenue is a multi-family home for sale in Los Angeles, CA 90019. This property was listed for sale on September 4, 2024 by Realty Investment Advisors, Inc., it's currently listed at $1,750,000. It has been on the market for a total of 17 days and was last sold on March 11, 2010. This listing's school district is Los Angeles Unified School District. Nearby schools include Wilshire Crest Elementary School, Girls Academic Leadership Academy, Dr. Michelle King School For Sci, Tech, Eng And Math and Los Angeles Senior High School. 1292 1/2 South Citrus Avenue is a 4-bed, 4-bath, 4,320 sqft multi-family home built in 1924.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin Lalezari, DRE #01987941; Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.