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$ 1,490,000
Est. payment /mo
New
493 San Vicente BLVD Los Angeles, CA 90019
6 Beds
6 Baths
5,438 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,438 sqft
Price per Sqft $273
MLS Listing ID 26876787
Bedrooms 6
HOA Y/N No
Year Built 1927
Lot Size 7,048 Sqft
Property Description
The Appel Group is proud to present the exclusive listing of 1296 S. Citrus Ave & 493 San Vicente Blvd, a six-unit multifamily asset in the heart of Los Angeles's coveted Mid-Wilshire submarket. Built in 1927, this french provincial style, two-story property pairs timeless architectural character with modern-day comfort, offering investors a rare combination of stable in-place income, meaningful rental upside, and a clear path to additional density. Located steps from the Miracle Mile and Museum Row, 1296 S. Citrus Ave stands as a well-positioned, income-producing asset in one of Los Angeles's most connected and culturally rich neighborhoods. The property features six spacious one-bedroom, one-bathroom residences, each appointed with hardwood floors, wall-mounted heating and air conditioning, dual- pane windows, and updated kitchens and bathrooms, with select units opening through private walk-up entrances. Four carport spaces and a two-car garage provide secure, convenient parking for residents, further enhancing the asset's long-term appeal. The story doesn't end at curb appeal. Ready-to-Issue (RTI) plans are already secured for a two-bedroom, two-bathroom ADU, opening a defined path to a seventh income-producing unit and additional upside. In-place rents also sit meaningfully below market, giving the numbers their own story of durable income and embedded growth as units turn over. Whether the strategy is aggressive value-add or long-term hold, this asset delivers upside rarely available at this basis in Mid-Wilshire. The location is equally compelling. 1296 S. Citrus Ave scores an impressive 88 on Walk Score, meaning residents can leave the car behind for daily errands, dinner, and entertainment. Neighborhood favorites like All Season Brewery, Fortune House, and Little Miss Cafe are all within easy reach, while Ralphs at Wilshire Boulevard and Hauser Boulevard keeps grocery runs simple. World-class culture waits close by too, with the Los Angeles County Museum of Art, La Brea Tar Pits and Museum, and Petersen Automotive Museum anchoring nearby Museum Row, and the Wilshire Boulevard corridor connecting residents to Koreatown, Downtown Los Angeles, and the Westside in minutes. For an investor seeking durable in-place income paired with a defined path to additional upside, 1296 S. Citrus Ave offers a compelling opportunity in one of Los Angeles's most established and well-connected submarkets, a six-unit asset with modernized interiors, secured ADU entitlements, and embedded rent growth in the heart of Mid-Wilshire.
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Appliance Disposal, Refrigerator, Dryer, Washer
Exterior
Parking Features Detached Carport
Garage Spaces 2.0
Carport Spaces 4
Garage Description 2.0
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5084026024
Special Listing Condition Standard
Listed by Eliyahu Appel Equity Union #01918652
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