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2524 S Sycamore Avenue, Los Angeles, California 90016, Los Angeles, 90016 - 3 bed, 1 bath

2524 S Sycamore Avenue, Los Angeles, California 90016 home-pic-0
ACTIVE$900,000
2524 S Sycamore Avenue, Los Angeles, California 90016
3Beds
1Bath
988Sqft
5,331Lot

Price Vs. Estimate

The estimated value ($856,681.265) is $43,318.735 (4%) lower than the list price ($900,000). This property may be overpriced.

Key pros and cons

Top Pros:
High-Density Zoning: The property is zoned LAR3, offering significant redevelopment potential, especially when combined with the adjacent parcel also available for sale.
Top Cons:
Advanced Age of Structure: Built in 1923, the property is very old, likely requiring substantial capital expenditure for modernization, repairs, or complete redevelopment.

Compared to the nearby listings

Price:$900.0K vs avg $1.05M ($-150,000)24%
Size:988 sqft vs avg 1,393.5 sqft11%
Price/sqft:$911 vs avg $79279%

More Insights

Built in 1923 (102 years old).
Condition: Built in 1923, this property is over 100 years old. The complete absence of interior images, particularly of the kitchen and bathroom, strongly suggests these areas are severely outdated and in need of substantial renovation. The listing description focuses heavily on the land's development potential and zoning, rather than the condition or features of the existing structure, further indicating that the house itself is not a selling point. While tenant-occupied, implying it's currently livable, a property of this age without any mentioned renovations is highly likely to require significant repairs and rehabilitation to major systems and finishes, aligning with a 'poor' condition score.
Year Built
1923
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$911
HOA
-
Days on market
-
Sold On
-
MLS number
25509215
Home ConditionPoor
Features
View

About this home

We are pleased to present an opportunity to acquire this 3-bedroom + 1-bathroom single-family residence. Currently tenant-occupied on a month-to-month lease, the property generates gross rents of $3,176 per month. The site is zoned LAR3. The neighboring parcel at 2530 S. Sycamore Ave is also available for sale, offering a combined lot size of 10,335 square feet. This single-story building, constructed in 1923, features a wood frame and stucco design on a raised foundation, with 988 square feet of living space on a 5,331-square-foot lot. The property is located within an Opportunity Zone, offering potential tax benefits.The property is situated in the vibrant West Adams neighborhood, which is seeing significant development and leasing activity. Notable nearby developments include the 1,200-unit Cumulus Development, Apple Campus, Nike, Amazon Studios, Sony, and the +/-500,000 SF Ivy Station development. This up-and-coming area continues to attract investment, making it a prime location with easy access to transportation.

Nearby schools

5/10
Cienega Elementary School
Public,•K-5•0.1mi
6/10
Marvin Elementary School
Public,•K-5•0.6mi
5/10
Virginia Road Elementary School
Public,•K-5•0.9mi
6/10
Baldwin Hills Elementary School
Public,•K-5•1.0mi
4/10
Alta Loma Elementary School
Public,•K-5•1.1mi
3/10
Arlington Heights Elementary School
Public,•K-5•1.7mi
3/10
Sixth Avenue Elementary School
Public,•K-5•1.8mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.6mi
2/10
Audubon Middle School
Public,•6-8•2.1mi
3/10
Daniel Webster Middle School
Public,•6-8•4.7mi
2/10
Susan Miller Dorsey Senior High School
Public,•9-12•0.8mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•2.1mi

Price History

Date
Event
Price
02/26/99
Sold
$93,000
08/23/05
Sold
$350,000
Condition Rating
Poor
Built in 1923, this property is over 100 years old. The complete absence of interior images, particularly of the kitchen and bathroom, strongly suggests these areas are severely outdated and in need of substantial renovation. The listing description focuses heavily on the land's development potential and zoning, rather than the condition or features of the existing structure, further indicating that the house itself is not a selling point. While tenant-occupied, implying it's currently livable, a property of this age without any mentioned renovations is highly likely to require significant repairs and rehabilitation to major systems and finishes, aligning with a 'poor' condition score.
Pros & Cons

Pros

High-Density Zoning: The property is zoned LAR3, offering significant redevelopment potential, especially when combined with the adjacent parcel also available for sale.
Opportunity Zone Designation: Located within an Opportunity Zone, this property provides substantial tax benefits for investors, enhancing its long-term investment appeal.
Strategic West Adams Location: Situated in a vibrant and rapidly developing West Adams neighborhood, surrounded by major corporate and residential projects, indicating strong appreciation potential and demand.
Immediate Rental Income: Currently tenant-occupied on a month-to-month lease, the property generates immediate gross rental income of $3,176 per month.
Excellent Elementary School Proximity: The property is exceptionally close to Cienega Elementary School (rated 5), a strong amenity for families.

Cons

Advanced Age of Structure: Built in 1923, the property is very old, likely requiring substantial capital expenditure for modernization, repairs, or complete redevelopment.
Limited Living Space & Single Bathroom: The 988 square feet of living space with only one bathroom for three bedrooms is small and functionally constrained for contemporary living standards.
Tenant Occupancy for Redevelopment: While providing income, the existing month-to-month tenancy could complicate or delay immediate redevelopment plans for a new owner.

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