493 San Vicente Blvd - Apartments FOR SALE


Los Angeles, CA 90019- Miracle Mile
$1,490,000 USD
818-390-4181
493 San Vicente Blvd, Los Angeles, CA for Sale
$1,490,000 USD
Apartments - FOR SALE
1/19
null | 6% Cap Rate

493 San Vicente Blvd
Los Angeles, CA 90019
Miracle Mile


HIGHLIGHTS

  • French Provincial Style Unit Mix – All six units are spacious one-bed, one-bath residences with select unit offering private walk-up entrances.
  • Updated Interiors – Hardwood floors, wall-mounted heating and air, dual-pane windows, updated kitchens and bathrooms, and in-unit washer/dryer
  • RTI ADU PLANS – Ready-To-Issue (RTI) plans are in place for a 2-bed, 2-bath ADU, providing a defined path to a seventh income-producing unit
  • Premier Mid-Wilshire Location – Steps from the Miracle Mile and Museum Row (LACMA, La Brea Tar and Museum, Petersen Automotive Museum)
  • High-Visibility Location – Approximately 26,266 vehicles pass the property daily, according to LADOT.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,490,000 USD

PRICE/SF

$274 USD /SF

# OF UNITS

6

PRICE/UNIT

$248,333

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

French Provincial Style Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,052 SF

ZONING

LAR3

APN/PARCEL ID

5084-026-024

ASK ABOUT THIS PROPERTY

Eli AppelEquity Union CommercialMore Info
818-390-4181

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Eli AppelEquity Union CommercialMore Info
818-390-4181

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.