1200 S Citrus Ave 16 Unit Apartment Building $3,150,000 ($196,875/Unit) 4.37% Cap Rate Los Angeles, CA 90019

Kidder Mathews is pleased to present 1200 South Citrus Avenue, a 16-unit multifamily investment, centrally located in the Miracle Mile neighborhood of Los Angeles. Offered to the market for the first time in several decades, this prominently located multifamily property originally constructed in 1951 features one and two bedroom units with a central courtyard and on-site parking. The structures are on a large lot totaling 14,140 square feet.
As an investment, the Property offers investors an incredible value add opportunity. With almost 50% upside in current rents, an investor can implement a strategic interior and exterior renovation with the goal of increasing rents and taking advantage of the strong rents in the area, while still offering units at a discount to newer construction
buildings. In addition, the property features a detached carports which provide potential to create Accessory Dwelling Units (ADUs) at the property. The property also features coin-operated laundry onsite.
The property is located on a quiet, tree-lined street approximately one block south of Olympic Boulevard and just west of La Brea. This location is incredibly central and in proximity to the surrounding neighborhoods of Beverly Grove, Wilshire Center, Carthay Circle, Beverly Hills, Picfair Village and more. Loaded with well-known restaurants, coffee shops, parks, and museums, tenants can enjoy the best of what Los Angeles has to offer.