1254 - 1260 N. Citrus

Los Angeles

 
 
 
 
 

8

UNITS

$500,000

PRICE/UNIT

$655.95

PRICE/FT

3.61%

CAP

18.34

GRM

4.84%

PRO FORMA CAP

14.88

PRO FORMA GRM
 

The LA Apartment Advisors are pleased to present the opportunity to acquire an iconic building in the heart of Hollywood with views of the Hollywood sign. The offering consists of  two 4-unit buildings, side by side, on two separate parcels, 4 units per parcel. A potential investor has the opportunity to secure 30 year fixed residential financing. With a walk score of 91 and a transit score of 65, this property is in one of the most in-demand markets in Los Angeles. 

Situated on a 0.20 acre lot, with 6,098 SF of rentable square feet, 1254-1260 N Citrus Ave offers investors an upside in rental income by turning over the last unrenovated unit and maximizing rents on all units. Major renovations to the property were completed in 2018 which include a new roof, updated plumbing and electrical, new windows, and seven (7) extensively remodeled units. 

Citrus has a unit mix of eight (8) one-bedroom / one-bathroom apartments that offers a spacious floor plan and a lot of natural light. Just minutes away from the property, tenants can enjoy entertainment destinations such as the TCL Chinese Theatre which is a movie palace on the historic Hollywood Wake of Fame, Madame Tussauds, a wax museum known as a huge tourist attraction, and The Dolby Theatre which is a live performance auditorium in the Hollywood and Highland Center shopping mall and entertainment complex. You can definitely find a day’s worth of activities that will give you the true experience of Hollywood and all it has to offer. 

World class shopping, dining, entertainment and nightlife await less than a mile away at Hollywood & Highland. This complex hosts more than 70 retailers, more than 25 dining options and endless entertainment and nightlife. Lucky Strike, Dave & Buster’s and OHM nightclub are just a few options you can expect.

 
 
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Aida Memary

Associate

O: (818) 212-2678

M: (818) 357-9526

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