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1312 N Citrus Ave

Los Angeles, CA 90028
  • $2,200,000
  • STATUS: Active Under Contract
  • ON SITE: 20 Days
  • MLS #: 21-106095
Under Contract
UPDATED: 34 min ago
$2,200,000
  • 11
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,918
    SQFT
  • $372
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1957
County:
Area:

School Ratings & Info

Description

1312 Citrus Ave, in Hollywood, CA. Built in 1953, this unique property made up of eight units will be delivered with one unit vacant (one one-bedroom). This is an ideal investment opportunity located in a prime area of Hollywood with below market rents and 50% upside achievable as units turn. The building features a unit mix made up of five one-bedrooms and three two-bedrooms, each with spacious layouts. The property consists of 7 parking spaces, the soft story retrofit has been complete. The units are separately metered for gas & electric and have air conditioning throughout. Furthermore, a new water heater was installed in 2019. This exclusive pocket of Central Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1312 N Citrus Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property boasts a walk score of 96 with unparalleled access to nightlife, dining, education, and employment opportunities Hollywood High School is located 2 blocks away. The Metro B Line (Red) is a short 10 minute walk to the Hollywood / Highland Station stop providing connectivity throughout the LA area.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T12:42:53.23. 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.
www.searchdesertrealestate.com/homes/123359552
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1312 N Citrus Ave Los Angeles, CA 90028

  • Price: $2,200,000
  • Status: Active Under Contract
  • On Site: 20 Days
  • Updated: 34 min ago
  • MLS #: 21-106095
11
Beds
0
Baths
0
½ Baths
0.15
Acres
5,918
SQFT
$372
$/SQFT
1957
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
Hollywood
Property Description
1312 Citrus Ave, in Hollywood, CA. Built in 1953, this unique property made up of eight units will be delivered with one unit vacant (one one-bedroom). This is an ideal investment opportunity located in a prime area of Hollywood with below market rents and 50% upside achievable as units turn. The building features a unit mix made up of five one-bedrooms and three two-bedrooms, each with spacious layouts. The property consists of 7 parking spaces, the soft story retrofit has been complete. The units are separately metered for gas & electric and have air conditioning throughout. Furthermore, a new water heater was installed in 2019. This exclusive pocket of Central Hollywood remains one of the most desirable addresses for both living and working. With the median household income continuing to rise and average home value of over $1 million within three miles, the demand for apartment units increases year-over-year exemplified with surrounding new residential and office developments as well as major employers established in the submarket. 1312 N Citrus Avenue is ideally situated to benefit from this economic growth as thousands of new high-paying jobs are within walking distance. The subject property boasts a walk score of 96 with unparalleled access to nightlife, dining, education, and employment opportunities Hollywood High School is located 2 blocks away. The Metro B Line (Red) is a short 10 minute walk to the Hollywood / Highland Station stop providing connectivity throughout the LA area.
Exterior Features

Lot Size Area 6712 Other Structures None Parking Garage Covered Parking Total Parking 0

Interior Features

Baths Total 11.00 Cooling Wall/Window Equipment Range/OvenRefrigerator Heating Other

Property Features

Assessed Total Value 209328 Gross Income 125296 Gross Operating Income 119031 Like Units1 5 Like Units2 3 Net Operating Income 65424.00 Number Of Buildings 1 Number Of Units 8 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 53608 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T12:42:53.23. 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.
 
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