811 N Citrus Ave, Los Angeles, CA 90038

Property Description

NEW PRICE! Exceptional investment opportunity in the heart of Hollywood's highly sought-after Media District, now offered at just $1,199,000! This well-maintained Spanish-style duplex generates $69,168 in annual gross rental income ($5,764/month) and features a recently installed brand-new roof. The property will be delivered with tenants in place, offering investors immediate rental income from day one, along with compelling long-term value-add potential. 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. Recent capital improvements include a brand-new roof, providing added value and reducing near-term maintenance concerns. Additional amenities include a charming shared courtyard, a lush tree-lined backyard, and garage spaces that provide added convenience for tenants. Beyond its existing rental 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 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 Hollywood location with convenient access to employment centers, shopping, and entertainment. Whether you're completing a 1031 exchange, expanding your multifamily portfolio, or seeking a long-term investment with immediate rental income and future value-add potential, 811 N. Citrus Avenue presents an excellent opportunity to acquire a well-positioned income-producing asset at a newly reduced price. 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.