2524 S Sycamore Avenue, Los Angeles, California 90016, Los Angeles, 90016 - 3 bed, 1 bath
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Los Angeles, California 90016
This property presents a High-Potential Investment Opportunity with a List Price of $925,000—positioned well above the $828,613 Fair Market Value by -11%. Featuring LAR3 Zoning on a 5,331 SF lot, this Value-Add Asset is primed for multifamily development in a high-growth Opportunity Zone. While the home carries a Condition Rating of 5, the existing month-to-month tenancy provides immediate cash flow. This is a strategic acquisition for Buy-and-Hold Investors or Multifamily Developers seeking to capitalize on the West Adams submarket’s rapid expansion.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2524 S Sycamore Avenue Subject | $925,000* List Price | 3 | 1 | 988 | $839 | - |
A 2524 Alsace Ave Sold | $710,000 | 3 | 2 | 1,071 | $663 | 0.1 mi |
B 2738 Thurman Sold | $856,000 | 3 | 1 | 1,075 | $796 | 0.9 mi |
C 2207 S Cochran Sold | $870,000 | 2 | 1 | 1,241 | $701 | 0.4 mi |
D 2134 S Sycamore Avenue Pending | $699,000 List Price | 2 | 1 | 921 | $759 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1923 (100+ years old) and marketed specifically as a 'development opportunity' and 'value-add' project. While currently tenant-occupied, the listing emphasizes the LAR3 zoning and land value for multifamily development, indicating the original structure is significantly outdated and requires a total rehab to meet modern standards.
The LAR3 zoning on a 5,331 SF lot provides a prime opportunity for multifamily development or significant value-add expansion in the rapidly growing West Adams submarket.
Situated in a designated Opportunity Zone near major tech and media hubs like Apple, Amazon Studios, and Sony, offering significant tax advantages and long-term appreciation potential.
The property is currently tenant-occupied at $3,300 per month on a month-to-month basis, providing immediate cash flow and flexibility for investors during the entitlement or planning phase.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
With only 988 square feet of living space for a three-bedroom layout, the interior footprint is exceptionally small and likely requires a total reconfiguration to meet modern residential standards.
The residence features only one bathroom for three bedrooms, a significant drawback for modern families and a factor that may limit rental upside without additional capital investment.
We are proud to present 2524 S. Sycamore Ave, a rare development and value-add opportunity in the heart of West Adams. This 3-bedroom, 1-bathroom single-family residence sits on a 5,331 SF lot zoned LAR3, offering a prime canvas for a multifamily development or a buy-and-hold investment. The home is currently tenant-occupied on a month-to-month basis, generating $3,300 per month in gross rent, giving a new owner immediate income and flexibility. Built in 1923, the single-story residence offers 988 SF of living space with classic wood-frame and stucco construction on a raised foundation. Located within a designated Opportunity Zone, the property offers significant potential tax advantages for investors. West Adams is one of Los Angeles' fastest-growing submarkets, surrounded by major employment and lifestyle drivers including the 1,200-unit Cumulus development, the +/-500,000 SF Ivy Station, Apple, Nike, Amazon Studios, and Sony. With strong leasing momentum, ongoing investment, and excellent access to transit and freeways, this is a strategic position in a neighborhood on the rise. Do not miss this chance to acquire land, income, and upside in one of LA's most dynamic corridors.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 988 | 1,672 |
| Lot Size | 5,331 | 6,067 |
| Price | $925.0K | $1.37M |
| Price per sq ft | $936 | $801 |
| Built year | 1923 | 1939 |
| HOA | $0 | $348 |
| Days on market | 33 | 56 |
Jun 19, 2026
$925,000
Initial Listing
Aug 23, 2005
$350,000
Public Record
Feb 26, 1999
$93,000
Public Record