French Provincial Style Building 1296 S Citrus Ave 6 Unit Apartment Building $2,053,220 CAD ($342,203 CAD/Unit) 6% Cap Rate Los Angeles, CA 90019

The Appel Group is proud to present the exclusive listing of 493 San Vicente Blvd, a six-unit multifamily asset in the desirable Mid-Wilshire submarket of Los Angeles. Built in 1927, this french provincial style, two-story property is a testament to timeless character now paired with modern-day comfort, home to 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. The property features 4 carport spaces and a 2-car garage for added convenience to residents. The story doesn’t end at curb appeal. The property has 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 for additional upside. In-place rents 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. Steps from the Miracle Mile and Museum Row, 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.