242 S Sycamore Ave Los Angeles, CA 90036

Agent Remarks: 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.

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