617 N Sycamore Avenue

Los Angeles, CA 90036

$4,650,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1926

calendar_month Built

Property Description

TIC Conversion Partnership Opportunity! Welcome to The Sycamore Bungalow Court, a 10-unit 1920s Spanish Colonial Revival apartment community located in the highly desirable Hancock Park neighborhood adjacent to West Hollywood. Comprising (2) remodeled 2-bed/2-bath and (8) 2-bed/1.5-bath townhouse-style units averaging 1,175 sqft, each unit offers private entrances, interior features characteristic of a single-family house, and is equipped with individual water heaters, in-unit W/D hookups, and separate meters for gas and electric. Sitting on an extra-large 16,320 sqft lot zoned LARD1.5, the property is fully parked with 12 on-site spaces and features central open space, low-maintenance landscaping, and a new irrigation system. All units also showcase new torch down roofs and 125 amp electrical sub-panels. For TIC/condo developers, this property presents a potential exit value of $8,000,000+ by remodeling each house-like unit for individual sale between $775,000 to $825,000. This centrally located trophy asset is being offered at only $395/sqft with 62% rental upside and significant value-add potential via interior/exterior renovations and a TIC conversion. Ask the broker for the Offering Memorandum and a TIC partnership opportunity!

Listing Information

List Price $4,650,000
Status Active
MLS SB24140557
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1926
Lot Size 16,320
Structure Size N/A
DOM 33
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
Listing Agent Robert Sillman DRE#02145409
Co-Listing Agent Cameron Samimi DRE#02035763

Interior Features

Laundry Information
Location(s) Washer Hookup, Gas Dryer Hookup, Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Robert Sillman, Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 13th, 2024 at 7:37 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.