811 N Citrus Ave, Los Angeles, CA 90038

Description

Rare opportunity to acquire a classic Spanish duplex in Hollywood's highly sought-after Media District offering immediate rental income and exceptional long-term upside. Property will be delivered with tenants in place, making it an outstanding investment opportunity with $69,168 in annual gross rental income ($5,764/month) from day one. The property features two spacious, light-filled residences consisting of 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. Each unit showcases timeless Spanish architectural charm, generous floor plans, abundant natural light, and a private home-like feel that continues to attract strong tenant demand. Recent capital improvements include a brand-new roof, providing added peace of mind while reducing near-term maintenance costs. Additional amenities include a charming shared courtyard, a lush tree-lined backyard, and garage spaces that offer added convenience for tenants. Beyond its strong in-place income, the property presents excellent future value-add potential. Zoned R2, the site may accommodate up to two ADUs (buyer to verify with the City of Los Angeles), creating an opportunity to significantly increase rental income and long-term asset value. Ideally located just moments from major film and television studios, Pink's Hot Dogs, Providence, Sprouts Farmers Market, Poinsettia Recreation Center, and countless dining and entertainment destinations, this prime Hollywood location continues to experience strong rental demand and long-term appreciation potential. Whether you're completing a 1031 exchange, adding a quality asset to your investment portfolio, or seeking a well-located income property with future upside, 811 N. Citrus Avenue presents a rare opportunity to acquire a well-maintained duplex 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 info!