Multifamily
1500 South Sycamore Avenue
1500 S Sycamore Ave, Los Angeles, CA 90019
Listing Price: $1,600,000
Investment Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a four-unit apartment community located at 1500 S Sycamore Avenue. The subject property is located south of Pico Boulevard and west of La Brea Avenue.
The subject property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, Mid-Wilshire, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on a 6,165 square foot parcel, the property is comprised of one two-bedroom unit and three three-bedroom units. The property has rental upside through unit renovations along with on-site parking for every unit.
1500 S Sycamore Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1500 S Sycamore Avenue an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
1500 South Sycamore Avenue
Investment Highlights
- Long term ownership - property has been owned for over 10 years, offering a rare acquisition opportunity
- The property is being offered at an attractive cap rate of 5.89%
- Surrounded by desirable neighborhoods such as Mid-Wilshire, Miracle Mile, Carthay Square, and Pico-Robertson, Mid-City is emerging as a compelling value for tenants priced out of nearby areas.
- Located in close proximity to world-class shopping, vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms & employment opportunities throughout Mid-City, Miracle Mile, West Adams, & Koreatown
- There is 14 percent remaining rental upside through interior renovations
- New ownership has potential to add accessory dwelling units (ADU) to the property allowing for added future growth and appreciation potential – buyer to verify
Exclusively Listed By
Financing By
Listing Price: $1,600,000
Investment Highlights
- Long term ownership - property has been owned for over 10 years, offering a rare acquisition opportunity
- The property is being offered at an attractive cap rate of 5.89%
- Surrounded by desirable neighborhoods such as Mid-Wilshire, Miracle Mile, Carthay Square, and Pico-Robertson, Mid-City is emerging as a compelling value for tenants priced out of nearby areas.
- Located in close proximity to world-class shopping, vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms & employment opportunities throughout Mid-City, Miracle Mile, West Adams, & Koreatown
- There is 14 percent remaining rental upside through interior renovations
- New ownership has potential to add accessory dwelling units (ADU) to the property allowing for added future growth and appreciation potential – buyer to verify
Investment Overview
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a four-unit apartment community located at 1500 S Sycamore Avenue. The subject property is located south of Pico Boulevard and west of La Brea Avenue. The subject property is located in a desirable pocket of Mid-City. The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Mid-City, Miracle Mile, Mid-Wilshire, West Adams, & Koreatown. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area. Situated on a 6,165 square foot parcel, the property is comprised of one two-bedroom unit and three three-bedroom units. The property has rental upside through unit renovations along with on-site parking for every unit. 1500 S Sycamore Avenue offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 1500 S Sycamore Avenue an excellent acquisition opportunity. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Exclusively Listed By
Financing By
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