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Multifamily

1312 Citrus Ave

1312 N Citrus Ave, Los Angeles, CA 90028

Listing Price: $2,200,000

Cap Rate
2.97%
Number of Units
8
Price/Unit
$275,000
Price/Gross SF
$371.75
Gross SF
5,918

Investment Overview

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.

Investment Highlights

  • 1312 Citrus Ave is a 5,918 square foot value-add investment opportunity in Hollywood, located just west of Highland Ave, between Sunset Ave and Fountain Ave
  • The building boasts a desirable unit mix made up of one-bedrooms and two bedrooms, the majority leased at below market rents and over 50% rental upside achievable as units turn
  • Prime Central Hollywood location – walking distance to Sunset Boulevard's newest eateries, craft bars and specialty shops
  • All units feature new windows, and four of the seven units have air conditioning
  • There are seven parking spaces and soft story retrofit work has been completed; additionally, the building has a gated front entrance
  • On-site laundry facilities - washer and dryer - providing additional monthly income
  • Located two blocks from Hollywood High School and Sunset Blvd. The subject property boasts a walk score of 96 and is a quick walk to the Hollywood / Highland Station (Red Line)

Exclusively Listed By

Financing By

Multifamily

1312 Citrus Ave

Listing Price: $2,200,000

Cap Rate
2.97%
Number of Units
8
Price/Unit
$275,000
Price/Gross SF
$371.75
Gross SF
5,918

Investment Highlights

  • 1312 Citrus Ave is a 5,918 square foot value-add investment opportunity in Hollywood, located just west of Highland Ave, between Sunset Ave and Fountain Ave
  • The building boasts a desirable unit mix made up of one-bedrooms and two bedrooms, the majority leased at below market rents and over 50% rental upside achievable as units turn
  • Prime Central Hollywood location – walking distance to Sunset Boulevard's newest eateries, craft bars and specialty shops
  • All units feature new windows, and four of the seven units have air conditioning
  • There are seven parking spaces and soft story retrofit work has been completed; additionally, the building has a gated front entrance
  • On-site laundry facilities - washer and dryer - providing additional monthly income
  • Located two blocks from Hollywood High School and Sunset Blvd. The subject property boasts a walk score of 96 and is a quick walk to the Hollywood / Highland Station (Red Line)

Investment Overview

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.

Exclusively Listed By

Financing By

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