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242 S Sycamore Ave, Los Angeles, CA 90036
$2,025,000
242 S Sycamore Ave, Los Angeles, CA 90036View this property at 242 S Sycamore Ave, Los Angeles, CA 90036
242 S Sycamore AveLos AngelesCA90036
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Property Description
We proudly present 242 S Sycamore Ave, a six-unit apartment building nestled in the heart of Miracle Mile. This property offers an extensive range of unit types, thoughtfully designed to cater to a diverse array of tenant preferences and needs. This strategic approach holds distinct advantages for perceptive investors, reducing dependency on any specific tenant demographic, thus spreading risk and ensuring a steady and dependable cash flow even amidst the ever-changing dynamics of the market. This property presents an exclusive opportunity to own a residence that has been absent from the market for over two decades. The appeal of this chance is heightened in a highly coveted submarket characterized by its affluent demographics and close proximity to a plethora of dining and entertainment options. Truly, an opportunity that should not be overlooked. Positioned just north of Wilshire Boulevard, 242 S Sycamore finds itself at the heart of Miracle Mile, celebrated for its cultural, culinary, and shopping attractions. With an impressive Walkscore of 86, this neighborhood offers abundant conveniences and a premium quality of life. Adding to its allure across various demographic segments, the property stands a short distance from an upcoming metro station, ensuring exceptional transit access for all types of commuters. Securing parking spaces within apartment complexes in Los Angeles can often be challenging. However, this property stands out by providing its residents with coveted parking and storage spaces within individual garages. These garages enhance convenience and instill peace of mind, setting this property apart from its neighboring structures. In a city where long-term tenants are prevalent, this building deviates from the norm, with no extended-stay occupants. The lowest rent within the building applies to a single unit, with the current tenant paying a reasonable rate of $1,617.Nestled within a historically significant enclave of Los Angeles, this property, constructed in the 1920s, exudes timeless charm through its captivating Spanish architectural design. The intricate stucco embellishments, arched doorways, and vibrant tile work showcase a rich cultural heritage and offer a rare glimpse into an era of architectural craftsmanship.
Full Property Details
Full Property Details for 242 S Sycamore Ave
General
- Sold For: $2,025,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-304545
- Added to Site: 256 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 7
Bedrooms
- Total Bedrooms: 7
Additional Information
- Other Features: None
Parking
- Garage Description: Garage Is Detached, Driveway - Concrete
Location
- Area: Hancock Park-Wilshire
- County: Los Angeles
- Driving Directions: Near cross streets S Sycamore Ave and W 3rd St.
Heating & Cooling
- Cooling Type: None
- Heating Type: None
Structural Information
- # Buildings: 1
- Stories/Levels: 2
- Square Feet: 6,104
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1927
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 6
- Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
Unit 1
- Total Bathrooms: 1
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Total Bathrooms: 1
- Bedrooms: 1
Unit 5
- Total Bathrooms: 2
- Bedrooms: 3
Unit 6
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.1763
- Lot Size: 7681
- Lot Size Source: Assessor
- Zoning: LAR3
Financial Considerations
- Price Per Sq. Ft.: $364.52
- Assessment Year: 1927
Disclosures and Reports
- Disclosures/Reports: None
- APN: 5513-024-006
Listed and Sold by Marcus & Millichap, Saadia 'Sam' Liberow
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Schools
Schools serving 242 S Sycamore Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
201 S June St, Los Angeles, CA 90004 | K-5 | 0.4 mi | |
600 S McCadden Pl, Los Angeles, CA 90005 | 6-8 | 0.5 mi | |
7850 Melrose Ave, Los Angeles, CA 90046 | 9-12 | 1.3 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 242 S Sycamore Ave
Date
Details
Price
Change
Source
3/22/2024
Sold
$2,025,000
-8.99%
MLS
1/16/2024
Price Reduced
$2,225,000
-5.32%
MLS
11/20/2023
Price Reduced
$2,350,000
-6%
MLS
8/30/2023
Listed
$2,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
242 S Sycamore Ave, Los Angeles, CA 90036 (MLS# 23-304545) is a Multi-Family property that was sold at $2,025,000 on March 22, 2024. Want to learn more about 242 S Sycamore Ave? Do you have questions about finding other Multi-Family real estate for sale in Hancock Park? You can browse all Hancock Park real estate or contact a Coldwell Banker agent to request more information.