Pending

242 S Sycamore Ave

Los Angeles CA, 90036

$2,225,000


$364.52 per sqft

Pending

7 Beds

6,104 sqft

Residential

Built in 1927

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.

23-304545

MLS ID

August 30, 2023

Listed

February 15, 2024

Updated

Map

242 S Sycamore Ave
Los Angeles CA, 90036

Interior Features

Total Stories

2


Bedrooms

7 Beds


Appliances

None


Fireplace

No


Cooling

No


Cooling Description

None


Heating

No


Heating Description

None

Exterior/Building Features

Lot Size

0.18 Acres

Other Property Details

Area Name

Hancock Park-Wilshire


Days on Market

163


Garage

Yes


Parking

Garage Is Detached, Driveway - Concrete


Parking Total

6


View

No


County

Los Angeles


Pool

No


Zoning

LAR3

Listing History

Date

Event

Price

2/10/2024

Pending

1/16/2024

Price Change

$2,225,000

-6%

1/16/2024

Active

1/9/2024

Under Contract

11/24/2023

Price Change

$2,350,000

-6%

Listed by with Marcus & Millichap
Listing Contact: 718-406-3128 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Susan Smith shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 2/15/2024

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