1215 North Sycamore Avenue

1215 North Sycamore Avenue

Los Angeles, CA 90038

$12,300,000
Price
47
Beds
43
Baths
27,640 Sq. Ft.
$445 / Sq. Ft.
27,640
Sq. Ft.
$445
per Sq. Ft.
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Description

We are pleased to present 1215 N Sycamore Ave, a 28-unit value-add multifamily investment opportunity located in LA's ultra-prime Sycamore District of Hollywood, LA Proper. Situated just north of Santa Monica Blvd and east of La Brea Ave, the property is adjacent to what the LA Times calls LA's coolest new neighborhood. It boasts a WalkScore of 95 (Walker's Paradise) and is located 0.8 miles from the B Line (formerly the Red Line) Metro station. Built in 1989 and exempt from Los Angeles Rent Control,...We are pleased to present 1215 N Sycamore Ave, a 28-unit value-add multifamily investment opportunity located in LA's ultra-prime Sycamore District of Hollywood, LA Proper. Situated just north of Santa Monica Blvd and east of La Brea Ave, the property is adjacent to what the LA Times calls LA's coolest new neighborhood. It boasts a WalkScore of 95 (Walker's Paradise) and is located 0.8 miles from the B Line (formerly the Red Line) Metro station. Built in 1989 and exempt from Los Angeles Rent Control, the property is comprised of 28 units with an exceptional mix of 68% 2-bedroom units, including 15 (2+2), 4 (2+1), and 9 (1+1) units, averaging approximately 987 gross square feet each. The 27,640-square-foot building stands on an 11,688-square-foot lot zoned LARD1.5-1XL. All units feature a balcony or patio and large windows that allow for ample natural light, full kitchens with built-in ovens, dishwashers, refrigerators, and microwaves, providing modern comfort. Some units offer views of Hollywood, West Hollywood, and the LA Basin, and include stainless-steel appliances, high-quality wood cabinets, laminated wood floors, and decorative fireplaces, adding a touch of elegance to select units. The property features a gated entry, a garden, a courtyard/patio, on-site laundry, and ample subterranean parking with more than 1 space per bedroom, allowing for at least 3 visitor parking spaces. Comprehensive security features include security cameras, an intercom system, and secure gated covered subterranean parking. The building also offers central air conditioning/heating, elevator access to all levels, and is separately metered for gas and electricity. Boasting an outstanding Walk Score of 95, 1215 N Sycamore Ave is at the center of Hollywood's most dynamic submarket, just a few blocks north of the Sycamore District, The Lot at Formosa, and Showtime Studios. It is 2 blocks away from the West Hollywood Gateway, which features retail shopping including Target, Best Buy, CVS, Ulta, Mendocino Farms, & Starbucks, and is located near one of the hottest members-only concept fitness clubs HEIMAT. Adding to an already bustling neighborhood, CIM Group acquired 1.6 acres of land with plans to develop the tallest building in West Hollywood called 1000 La Brea. The towering 34-story building will feature 514 apartments on its upper floors and would include approximately 30,000 square feet of commercial space, dedicated to a grocery store. Other elements of the project include parking for 674 vehicles and 393 bicycles. This exceptional location offers residents unmatched access to career centers, educational institutions, restaurants, nightlife, shopping, and recreation (1 mile north to Runyon Canyon), all within one of the most walkable and high-demand locations in Southern California. Conveniently located just one block north of CA-2, 0.8 miles from the B Line Metro station, and 1.8 miles from the CA 101 freeway, the property ensures easy access to the city's extensive transit network and LA attractions. Ideally positioned in the heart of the Sycamore District, this well-maintained asset offers significant rental upside (32%+ rental upside) in a dynamic, thriving, and centrally located submarket. It presents an astute investor with the potential to add significant value, appreciation, and strong returns, supported by high tenant demand for a quality living experience in one of Los Angeles's most dynamic neighborhoods in the Western United States.
  1. Listed by Matthew R. Kanner • DRE #01349203 • Brokerage DRE #01269474 • Keller Williams Realty Los Feliz

Property Details for 1215 North Sycamore Avenue

Zoning
LARD1.5
Parcel Number
5531012035
Total Units
28.0
Living Area
27640
Source Living Area
Assessor
Area
Hollywood (C20)
Vacancy Rate
5
Lot Size Area
11688

Location

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203
Add your commute
LISTING UPDATED: 03/19/2024 12:01 AM

Property Details for 1215 North Sycamore Avenue

StatusActive
MLS #24-367427
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
Lot Size0.27 AC / 11,688 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203
Add your commute

Building Information for 1215 North Sycamore Avenue

Stories4Residences-Year Built1989Building Size-Lot Size0.27 AC / 11,688 SF

Payment Calculator

$71,319 per month

30 year fixed, 7.25% Interest

Principal and Interest

$67,126

Property Taxes

$4,193

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1215 North Sycamore Avenue

Community / Development
Community / Development
  • Number Of Units: 28
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 4
  • Number Of Buildings: 1
  • Type Of Units: 3
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $878,936
  • Net Operating Income: $539,341.00
  • Gross Income: $905,964
  • Gross Rent Multiplier: $13.58
  • Total Annual Expense: 339595
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2684
  • Lot Size Square Feet: 11688
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 49
  • Garage Spaces Total: 49
  • Parking Features: Garage
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: Central Air
  • Cooling Type: Central, Ceiling Fan
  • Heating: Central
  • Heating Type: Central
  • Equipment: Microwave, Dishwasher, Range/Oven, Refrigerator
  • Laundry: Community, Laundry Area
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,986.00
  • Unit Actual Rent: $44,794.00
  • Unit Projected Rent: $54,750.00
  • Like Units: 15
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,519.00
  • Unit Actual Rent: $10,075.00
  • Unit Projected Rent: $13,800.00
  • Like Units: 4
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,245.00
  • Unit Actual Rent: $20,208.00
  • Unit Projected Rent: $25,650.00
  • Like Units: 9
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $3,399,426.00
  • Assessed Improvement Percent: 86.58
  • Assessed Land Value: $526,895.00
  • Assessed Land Percent: 13.42
  • Assessed Total Value: $3,926,321.00

Property History for 1215 North Sycamore Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1215 North Sycamore Avenue

Taxable ValueLand$526,895Additions$3,408,773Total$3,935,668
Tax Record2023$50,317 ($4,193 / month)
Home Facts
Total Finished SqFt27,640 SqFtAbove Grade Finished SqFt27,640 SqFtLot Size11,688 SqFtStyleMulti-Family Res (5+ Units)Year Built1989ZoningLARD1.5CountyLOS ANGELESAPN5531-012-035

Schools near 1215 North Sycamore Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Gardner Street Elementary School
Public - K to 5
Hubert Howe Bancroft Middle School
Public - 6 to 8
Hollywood Senior High School
Public - 9 to 12
Melrose Elementary School
Public - K to 5
Rating
School
Distance
Gardner Street Elementary School
PublicK to 5

Hubert Howe Bancroft Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

Melrose Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1215 North Sycamore Avenue, Los Angeles, CA 90038

1215 North Sycamore Avenue is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on March 11, 2024 by Keller Williams Realty Los Feliz, it's currently listed at $12,300,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Gardner Street Elementary School, Hubert Howe Bancroft Middle School and Hollywood Senior High School. 1215 North Sycamore Avenue is a 47-bed, 43-bath, 27,640 sqft multi-family home built in 1989.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Los Feliz, Matthew R. Kanner, DRE #01349203

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.