1271 Sycamore Ave Los Angeles, CA 90019
- Commercial real estate
- 3,633 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1271 Sycamore Ave
- Year built
- 1926
- Property size
- 3,633 SF
- Property type
- Commercial real estate
- APN
- 5070-005-022
Description
This exceptional investment opportunity presents a meticulously remodeled four-unit apartment building situated in the desirable Mid-Wilshire neighborhood of Los Angeles, California. The property, located at 1271 S Sycamore Ave, boasts a total of 3,633 square feet on a 6,405 square foot lot (APN: 5070-005-022). Built in 1926, this Class A multifamily property features two buildings, each two stories high, and is zoned LAR2. The building comprises four units: two 3-bedroom, 2-bathroom units and two 2-bedroom, 1-bathroom units. All units feature brand new hardwood floors, central air and heat, stainless steel kitchen appliances, modern windows, and updated bathroom fixtures. Each unit also includes an in-unit washer and dryer. One 3-bedroom, 2-bathroom unit is currently vacant, presenting an ideal owner-user opportunity. The property also includes four private garages with additional storage space. Recent upgrades include a new roof and plumbing, minimizing future maintenance costs. The property's strong financial performance is reflected in its current NOI of $108,872 and a pro-forma NOI of $143,906, resulting in a cap rate of 4.28% and a pro-forma cap rate of 5.65%. The asking price is $2,545,000, or $636,250 per unit, and $700.52 per square foot. The property's central location offers easy access to Mid-Wilshire, Culver City, and Downtown Los Angeles, providing convenient access to numerous amenities. The potential for adding an Accessory Dwelling Unit (ADU) further enhances the investment potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.347292
- Latitude
- 34.0507401
