This exceptional investment opportunity presents a meticulously remodeled four-unit apartment building situated in the desirable Mid-Wilshire neighborhood of Los Angeles, California. The property, located at 1271 S Sycamore Ave, boasts a total of 3,633 square feet on a 6,405 square foot lot (APN: 5070-005-022). Built in 1926, this Class A multifamily property features two buildings, each two stories high, and is zoned LAR2. The building comprises four units: two 3-bedroom, 2-bathroom units and two 2-bedroom, 1-bathroom units. All units feature brand new hardwood floors, central air and heat, stainless steel kitchen appliances, modern windows, and updated bathroom fixtures. Each unit also includes an in-unit washer and dryer. One 3-bedroom, 2-bathroom unit is currently vacant, presenting an ideal owner-user opportunity. The property also includes four private garages with additional storage space. Recent upgrades include a new roof and plumbing, minimizing future maintenance costs. The property's strong financial performance is reflected in its current NOI of $108,872 and a pro-forma NOI of $143,906, resulting in a cap rate of 4.28% and a pro-forma cap rate of 5.65%. The asking price is $2,545,000, or $636,250 per unit, and $700.52 per square foot. The property's central location offers easy access to Mid-Wilshire, Culver City, and Downtown Los Angeles, providing convenient access to numerous amenities. The potential for adding an Accessory Dwelling Unit (ADU) further enhances the investment potential.
Highlights
$2,545,000 asking price for this Class A, 4-unit apartment building.
Four units total: two 3-bed/2-bath and two 2-bed/1-bath.
Recently renovated with new hardwood floors, central A/C & heat, stainless steel appliances, and in-unit laundry.
One vacant 3-bed/2-bath unit ideal for owner-occupancy.
Potential for an Accessory Dwelling Unit (ADU) to increase income.
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Contacts
Cameron Samimi
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1271 Sycamore Ave, Los Angeles, California, 90019
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1271 Sycamore Ave
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