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1061 S Sycamore Ave

Los Angeles, CA 90019
  • $2,199,000
  • STATUS: Active
  • ON SITE: 14 Days
  • MLS #: 22-153941
UPDATED: 138 min ago
$2,199,000
  • 7
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,647
    SQFT
  • $473
    $/SQFT
Type:
Multi-Family
Built:
1929
County:

School Ratings & Info

Description

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-20T23:43:00.543. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/128444517
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1061 S Sycamore Ave Los Angeles, CA 90019

  • Price: $2,199,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 138 min ago
  • MLS #: 22-153941
7
Beds
0
Baths
0
½ Baths
0.17
Acres
4,647
SQFT
$473
$/SQFT
1929
Built
Neighborhood:
Beverly Center-Miracle Mile
County:
Los Angeles
Area:
Beverly Center-Miracle Mile
Property Description
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.
Exterior Features

Lot Size Area 7514 Other Structures Other Parking Garage Assigned Total Parking 5

Interior Features

Baths Total 5.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 1798338 Gross Income 89400 Gross Operating Income 86718 Like Units1 2 Like Units2 1 Net Operating Income 46630.00 Number Of Buildings 2 Number Of Units 3 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 40088 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lar2

Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-20T23:43:00.543. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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