811 N Citrus Avenue,Los Angeles, CA 90038
Los Angeles, CA 90038
Description
Exceptional investment opportunity in the heart of Hollywood's highly sought-after Media District. This well-maintained Spanish-style duplex offers immediate, stable cash flow with **$69,168 in annual gross rental income ($5,764/month)** and will be delivered with tenants in place, making it an ideal acquisition for investors seeking dependable income from day one.The property consists of two spacious units: a 2-bedroom, 1-bathroom unit currently rented for **$3,285/month** and a 1-bedroom, 1-bathroom unit currently rented for **$2,479/month**. Both residences feature generous floor plans, abundant natural light, and classic Spanish architectural charm that continues to attract long-term tenant demand.Recent capital improvements include a **brand-new roof**, providing added value while reducing near-term maintenance costs. Additional amenities include a charming shared courtyard, a lush tree-lined backyard, and garage spaces that provide added convenience for tenants.Beyond its strong in-place income, the property offers compelling long-term upside. Zoned **R2**, the site may accommodate up to **two ADUs** (buyer to verify with the City of Los Angeles), presenting an opportunity to significantly increase future rental income and overall asset value.Ideally located just moments from major film and television studios, Pink's Hot Dogs, Providence, Sprouts Farmers Market, Poinsettia Recreation Center, and numerous dining and entertainment destinations, the property benefits from a highly desirable rental location with strong tenant demand.Whether you're completing a 1031 exchange, expanding your multifamily portfolio, or seeking a quality long-term investment with both stable cash flow and future value-add potential, 811 N. Citrus Avenue presents a rare opportunity to acquire a well-positioned asset in one of Los Angeles' most desirable rental markets. Seller intends to perform an IRS Section 1031 tax-deferred exchange and requests buyer's cooperation. Property will be delivered with tenants in place. Please do not disturb current tenants. Contact listing agent for additional information.
Details
| MLS # | 26654465 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 189 |
| Listing Provided By | Keller Williams Beverly Hills | Daniel Shamooelian |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 2 |
| SQ Feet | 2,090 |
| Story(s) | 1 |
| Units | 2 |
| Building(s) | 1 |
| Zoning | LAR2 |
| Acreage | 0.14 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
Parking
| Parking Features | Driveway |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $1,249,000 low | high Med: $1,997,500 sqft: 2,090 low | high Med: 6,225 $ / sqft: $598 low | high Med: $324 On site: 189 low | high Med: 151.5 | |
Market Activity 90038
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90038 |
| Area | C20 Hollywood |
| Listing VS Median (in 90038) | |
Price: $1,249,000 low | high Med: $1,997,500 sqft: 2,090 low | high Med: 6,225 $ / sqft: $598 low | high Med: $324 On site: 189 low | high Med: 151.5 | |
