617 N Sycamore AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90036
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 11,744 sqft
Price per Sqft $395
MLS Listing ID SB24140557
HOA Y/N No
Year Built 1926
Lot Size 0.375 Acres
Acres 0.3747
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!
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LARD1.5
Rooms
Ensuite Laundry Washer Hookup,Gas Dryer Hookup,Inside
Interior
Laundry Location Washer Hookup,Gas Dryer Hookup,Inside
Cooling Central Air
Fireplace No
Laundry Washer Hookup,Gas Dryer Hookup,Inside
Exterior
Pool None
Community Features Curbs,Dog Park
Total Parking Spaces 12
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5525017014
Acceptable Financing Cash,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to New Loan,1031 Exchange
Special Listing Condition Standard