724 S Sycamore Avenue, Los Angeles, California 90036, Los Angeles, 90036 - bed, bath
ACTIVE$2,600,000
724 S Sycamore Avenue, Los Angeles, California 90036
0Bed
0Bath
6,042Sqft
6,223Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Significant Value-Add Potential: Rents are approximately 30% below market, offering substantial immediate upside for investors to boost cash flow and maximize returns through rent optimization.
Top Cons:
Below Market Rents (Initial Income): While offering future upside, the current 30% below market rents translate to lower immediate income for a new owner, requiring active management and potential tenant turnover to realize full market potential.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1957 (68 years old).
Condition: The property was built in 1957, making it 67 years old. While the description states 'well-maintained' and a 'solid investment foundation,' the visible exterior, common areas, and prevalence of window AC units indicate significant aging and outdated systems. The listing explicitly mentions 'rents are about 30% below market' and a 'value-add opportunity,' which strongly implies that the interior units, including kitchens and bathrooms, are substantially outdated and require extensive renovation to meet current market standards and achieve higher rents. The complete absence of interior photos further supports the assessment that these areas are not a selling point and need significant rehabilitation. This aligns with the 'Poor' category, indicating a need for substantial repairs and rehabilitation to bring the property up to modern living and market expectations.
Year Built
1957
Close
-
List price
$2.6M
Original List price
$2.6M
Price/Sqft
$430
HOA
-
Days on market
-
Sold On
-
MLS number
SB25146520
Home ConditionPoor
Features
View-
About this home
Investment Opportunity: Multifamily Property in LA's Financial District First Time on the Market in 20 Years! Unlock tremendous potential with this multifamily property situated in the heart of LA's Financial District, just steps away from the future subway station. Currently, rents are about 30% below market, presenting a significant value-add opportunity for investors to boost cash flow and maximize returns. Key Features: Exceptional Value-Add Potential: Take advantage of below-market rents for significant immediate upside. Prime Location: In the vibrant Miracle Mile, with easy access to dining, entertainment, and transit. Diverse Unit Mix: Attract a wide range of tenants with various unit sizes and layouts. Well-Maintained: A solid investment foundation ready for your vision. Don’t miss this rare chance to invest in a property with great upside potential in a highly sought-after area. Contact us today to arrange a private showing!
Nearby schools
2/10
Wilshire Crest Elementary School
Public,•K-5•0.3mi
8/10
Third Street Elementary School
Public,•K-5•0.8mi
7/10
Queen Anne Place Elementary School
Public,•K-5•1.0mi
7/10
Hancock Park Elementary School
Public,•K-5•1.2mi
4/10
Saturn Street Elementary School
Public,•K-5•1.3mi
4/10
Alta Loma Elementary School
Public,•K-5•1.3mi
6/10
Wilshire Park Elementary School
Public,•K-5•1.5mi
5/10
Carthay Center Elementary
Public,•K-5•1.5mi
3/10
Wilton Place Elementary School
Public,•K-5•1.6mi
3/10
Arlington Heights Elementary School
Public,•K-5•1.7mi
4/10
Crescent Heights Boulevard Elementary School
Public,•K-5•2.0mi
7/10
John Burroughs Middle School
Public,•6-8•0.4mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.6mi
5/10
Pio Pico Middle School
Public,•6-8•1.9mi
3/10
Daniel Webster Middle School
Public,•6-8•5.7mi
4/10
Los Angeles Senior High School
Public,•9-12•0.6mi
7/10
Fairfax Senior High School
Public,•9-12•1.9mi
6/10
Alexander Hamilton Senior High School
Public,•9-12•3.3mi
Condition Rating
Poor
The property was built in 1957, making it 67 years old. While the description states 'well-maintained' and a 'solid investment foundation,' the visible exterior, common areas, and prevalence of window AC units indicate significant aging and outdated systems. The listing explicitly mentions 'rents are about 30% below market' and a 'value-add opportunity,' which strongly implies that the interior units, including kitchens and bathrooms, are substantially outdated and require extensive renovation to meet current market standards and achieve higher rents. The complete absence of interior photos further supports the assessment that these areas are not a selling point and need significant rehabilitation. This aligns with the 'Poor' category, indicating a need for substantial repairs and rehabilitation to bring the property up to modern living and market expectations.
Pros & Cons
Pros
Significant Value-Add Potential: Rents are approximately 30% below market, offering substantial immediate upside for investors to boost cash flow and maximize returns through rent optimization.
Prime Miracle Mile Location: Situated in the vibrant Miracle Mile, the property benefits from excellent access to dining, entertainment, and is located in a highly sought-after area of Los Angeles.
Future Transit Connectivity: Its proximity to a future subway station promises enhanced accessibility and strong potential for long-term property appreciation and tenant demand.
Multifamily Investment Opportunity: Clearly positioned as a multifamily investment, this property directly appeals to investors seeking income-generating assets with growth potential.
Diverse Unit Mix & Solid Foundation: The property offers a diverse range of unit sizes and layouts, attracting a wide tenant base, and is described as 'well-maintained,' providing a solid investment foundation.
Cons
Below Market Rents (Initial Income): While offering future upside, the current 30% below market rents translate to lower immediate income for a new owner, requiring active management and potential tenant turnover to realize full market potential.
Age of Property (Potential for Updates): Built in 1957, the property's age, despite being 'well-maintained,' may necessitate future capital expenditures for system updates or cosmetic renovations to fully optimize for market rents and modern tenant expectations.
Lack of Specific Renovation Details: The description mentions 'well-maintained' but lacks specific details on recent capital improvements or renovations, which could imply an unknown scope of work required to achieve top market rents.