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1061 S Sycamore Avenue

Los Angeles (City), CA 90019
  • $2,199,000
  • STATUS: Active
  • ON SITE: 16 Days
  • ID#: 22153941
UPDATED: 24 min ago
$2,199,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1929
County:

School Ratings & Info

Listing Agent(s): Roderick 'Rick' Raymundo of Marcus & Millichap (213-943-1800)


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 California Regional Multiple Listing Service, Inc. as of 2022-05-23T09:35:40.003. 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 Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/128447177
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1061 S Sycamore Avenue Los Angeles (City), CA 90019

  • Price: $2,199,000
  • Status: Active
  • On Site: 16 Days
  • Updated: 24 min ago
  • ID#: 22153941
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1929
Built
Neighborhood:
C19 - Beverly Center-Miracle Mile
County:
Los Angeles
Area:
C19 - 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

Parking Features Assigned Parking Total 5

Property Features

Association Fee 0 Gross Income 89400 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 46630 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 1 Zoning Lar2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-23T09:35:40.003. 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 Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Roderick 'Rick' Raymundo of Marcus & Millichap (213-943-1800)