444 N Sycamore Ave, Los Angeles, CA
Eight-Unit Pride-of-Ownership Asset in LA’s Prestigious Hancock Park Neighborhood With 75 Percent of Units Recently Remodeled and Numerous Other Upgrades
Remodeled and Numerous Other Upgrades Significant Rental Upside Potential and Opportunity to Lease Two Units at Market Rate (Two Large One-Beds Will Be Delivered Vacant)
Property Has Ample Parking, Laundry Facilities, Controlled Access, Hardwood Floors, a New Central Heating System, A/C, and More
Easy Walking Distance to Popular Shops and Restaurants on La Brea and Melrose (WalkScore: 89) and Proximate to The Grove, Larchmont Village, and World-Famous Hollywood Attractions
444 North Sycamore Avenue
Los Angeles, CA
The Bogie Group of Marcus & Millichap is pleased to present to market 444 North Sycamore Avenue, an eight-unit pride-of-ownership multifamily investment opportunity in Los Angeles’ prestigious Hancock Park neighborhood. This offering is an excellent opportunity for an investor to acquire a very well-maintained asset with significant upside potential and a strong tenant base in an upscale location proximate to world-class dining, retail, and entertainment.
444 North Sycamore Avenue is an impressively well-maintained 1928 Spanish-style construction with original charm, numerous recent upgrades, and a mix of six one-bedroom/one-bath units, one one-bedroom/one-bath unit with a den, and one studio apartment. All units boast maintained hardwood floors, window or wall air conditioners, and six of the units have been remodeled with custom upgrades. Additional recent improvements include a new central forced air heating system, a new water heater, plumbing upgrades, and a new concrete driveway ingress. The property also boasts a laundry room with owned equipment, an automatic sprinkler system, a secure telephone entry system, five carport spaces with storage bins, two uncovered parking spaces, and two private garages.
Two of the large one-bedroom units will be delivered vacant, offering a new investor the opportunity to lease them at market rate. The current rents offer a potential 15% upside in rents. Further adding to the property’s income potential, a new investor may want to explore the potential of building an ADU above the garage.