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Multifamily

1061 S Sycamore Ave

1061 S Sycamore Ave, Los Angeles, CA 90019

Listing Price: $2,199,000

Cap Rate
2.12%
Number of Units
3
Price/Unit
$733,000
Price/Gross SF
$473.21
Gross SF
4,647

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 1061 S Sycamore Avenue, a beautifully remodeled triplex in the highly desirable Miracle Mile neighborhood of Los Angeles, CA. This quintessential Spanish Colonial Revival property is situated in a prime location, just a short drive from Beverly Grove and Hancock Park. The area boasts beautiful homes, plenty of dining, and is close to The Farmers Market and The Grove. There are two expansive three-bedroom units with plenty of character preserved from the development era, and a separate one-bedroom unit mirroring the same style. Two of the three units have been completely remodeled, and investors may continue to capitalize on the same upgrades that have been implemented in these units. Built in 1929, this property boasts beautifully renovated units along with multiple amenities. Recently remodeled units feature in-unit washer/dryers, crystal chandeliers, recessed LED lighting, central air and heat, Caesarstone countertops, stainless steel appliances, and fully remodeled bathrooms. The spacious three-bedroom units are approximately 1,800 square feet each, while the large one-bedroom unit is approximately 950 square feet. The building’s exterior is exceptionally clean with fresh paint and meticulous groundskeeping, and a fully upgraded courtyard area allows tenants a serene setting to relax or socialize. The Miracle Mile neighborhood has been experiencing plenty of new capital investments in the form of renovations and full remodels, only adding to the charm of the area. Miracle Mile is slated to have additional capital coming in via the Wilshire Courtyard, a high-rise office building, and the Mirabel, an Art Deco-inspired tower with 348 apartments and ground-floor retail. It has a been a highly desirable submarket for years, and that is a trend that many investors expect to continue.

Investment Highlights

  • Prime Miracle Mile Location -- Among the Most Desirable Multifamily Submarkets in Los Angeles
  • Exquisite Spanish Colonial Revival Triplex with Majority of Units Fully Renovated
  • Excellent Unit Mix -- Mostly Three-Bedroom Units
  • Select Interiors Upgraded with In-Unit Washer/Dryers, Recessed LED Lighting, Caesarstone Countertops, and Central Air/Heat
  • Short Drive to Beverly Hills, Hancock Park, The Grove and Farmers Market
  • May Be Delivered with Vacant Three-Bedroom Unit -- Potential for Owner-Occupant
  • Select Interiors Feature Vaulted Ceilings with Exposed Beams, Preserved Character
  • Ample Parking Includes Four Individual Garages

Exclusively Listed By

Financing By

Multifamily

1061 S Sycamore Ave

Listing Price: $2,199,000

Cap Rate
2.12%
Number of Units
3
Price/Unit
$733,000
Price/Gross SF
$473.21
Gross SF
4,647

Investment Highlights

  • Prime Miracle Mile Location -- Among the Most Desirable Multifamily Submarkets in Los Angeles
  • Exquisite Spanish Colonial Revival Triplex with Majority of Units Fully Renovated
  • Excellent Unit Mix -- Mostly Three-Bedroom Units
  • Select Interiors Upgraded with In-Unit Washer/Dryers, Recessed LED Lighting, Caesarstone Countertops, and Central Air/Heat
  • Short Drive to Beverly Hills, Hancock Park, The Grove and Farmers Market
  • May Be Delivered with Vacant Three-Bedroom Unit -- Potential for Owner-Occupant
  • Select Interiors Feature Vaulted Ceilings with Exposed Beams, Preserved Character
  • Ample Parking Includes Four Individual Garages

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to purchase 1061 S Sycamore Avenue, a beautifully remodeled triplex in the highly desirable Miracle Mile neighborhood of Los Angeles, CA. This quintessential Spanish Colonial Revival property is situated in a prime location, just a short drive from Beverly Grove and Hancock Park. The area boasts beautiful homes, plenty of dining, and is close to The Farmers Market and The Grove. There are two expansive three-bedroom units with plenty of character preserved from the development era, and a separate one-bedroom unit mirroring the same style. Two of the three units have been completely remodeled, and investors may continue to capitalize on the same upgrades that have been implemented in these units. Built in 1929, this property boasts beautifully renovated units along with multiple amenities. Recently remodeled units feature in-unit washer/dryers, crystal chandeliers, recessed LED lighting, central air and heat, Caesarstone countertops, stainless steel appliances, and fully remodeled bathrooms. The spacious three-bedroom units are approximately 1,800 square feet each, while the large one-bedroom unit is approximately 950 square feet. The building’s exterior is exceptionally clean with fresh paint and meticulous groundskeeping, and a fully upgraded courtyard area allows tenants a serene setting to relax or socialize. The Miracle Mile neighborhood has been experiencing plenty of new capital investments in the form of renovations and full remodels, only adding to the charm of the area. Miracle Mile is slated to have additional capital coming in via the Wilshire Courtyard, a high-rise office building, and the Mirabel, an Art Deco-inspired tower with 348 apartments and ground-floor retail. It has a been a highly desirable submarket for years, and that is a trend that many investors expect to continue.

Exclusively Listed By

Financing By

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