1296 Citrus Ave | Mid Wilshire

Offering Memorandum

1296 S. CITRUS AVE

6 Units in Mid-Wilshire Submarket

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Summary

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UNITS

YEAR BUILT

GROSS SF

LOT SF

APN

ZONING

1927

5,438

7,052

5084-026-024

LAR3

Opportunity

Realty Investment Advisors is 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.

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Each unit is equipped with individual washer/dryer, ensuring convenience and comfort for tenants. The subject property offers six parking spaces on-site and is conveniently located within walking distance to 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!