617 N Sycamore Avenue

    Los Angeles (City), CA 90036
    • $5,499,000
    • STATUS: Active
    • ON SITE: 14 days
    • ID#: 19517170
    UPDATED: 43 min ago
    $5,499,000
    • 0
      BEDS
    • 0.37
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,744
      SQFT
    • $468
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1926
    County:

    School Ratings & Info

    Description

    An incredibly rare offering; 10 units in Prime Hancock Park, comprised of 5 free-standing Duplexes on a HUGE 16,744 square foot lot, zoned LAR1.5 (offering multi-family development opportunity). Amazing scale and great frontage (90 linear feet) along beautiful & famed Sycamore Avenue. Huge 2-bedroom / 1-bathroom units averaging nearly 1,200 SF each! Each unit feels like a "home" and offers residents in-unit laundry and original details throughout. 10 parking spaces at rear of property. Exceptionally strong rental demand in the immediate area. Immense upside in rents. Build up to 12 "Small Lot Subdivision" homes in one of LA's hottest areas. Endless shops, restaurants & amenities in close proximity. Close to Studios, Hollywood, Tech Companies, Schools and more. A once in a lifetime opportunity to purchase this gem of an asset. Buyer to verify development potential with City of Los Angeles.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T10:37:09.547. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/99577672

    617 N Sycamore Avenue Los Angeles (City), CA 90036

    • Price: $5,499,000
    • Status: Active
    • Updated: 43 min ago
    • ID#: 19517170
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.37
    Acres
    11,744
    SQFT
    $468
    $/SQFT
    1926
    Built
    Neighborhood:
    HPK - Hancock Park
    County:
    Los Angeles
    Area:
    HPK - Hancock Park
    Property Description
    An incredibly rare offering; 10 units in Prime Hancock Park, comprised of 5 free-standing Duplexes on a HUGE 16,744 square foot lot, zoned LAR1.5 (offering multi-family development opportunity). Amazing scale and great frontage (90 linear feet) along beautiful & famed Sycamore Avenue. Huge 2-bedroom / 1-bathroom units averaging nearly 1,200 SF each! Each unit feels like a "home" and offers residents in-unit laundry and original details throughout. 10 parking spaces at rear of property. Exceptionally strong rental demand in the immediate area. Immense upside in rents. Build up to 12 "Small Lot Subdivision" homes in one of LA's hottest areas. Endless shops, restaurants & amenities in close proximity. Close to Studios, Hollywood, Tech Companies, Schools and more. A once in a lifetime opportunity to purchase this gem of an asset. Buyer to verify development potential with City of Los Angeles.
    Exterior Features

    Lot Size Source See Remarks Lot Size Units Square Feet Parking Features UncoveredParking Space Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 3.48 Gross Multiplier 26.32 Gross Operating Income 227784.00 Improvements Amount 138344 Land Value 170041 Laundry YN Yes Net Operating Income 191348.00 Special Listing Conditions Standard Total Expenses 36435.00 Zoning Lard1.5

    Listing provided courtesy of Allen Roth of Sotheby's International Realty and Darren Winston of Sotheby's International Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T10:37:09.547. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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