854 S Sycamore Ave Los Angeles, CA 90036

Agent Remarks: We are pleased to present this 4 unit multifamily property located at 854 S Sycamore Ave, in the heart of the Mid-Wilshire district and at the outskirts of Hancock Park.Built in 1931 and fully renovated in the past few years, this beautiful Spanish-style building sits on a 0.15 acre corner lot, and the building's 5,302 square feet is equally split into four 2 bed / 1 bath units, with an estimated unit size of 1,325 square feet for each unit. Also, the property has 4 private 1-car garages, one for each tenant to use. The owner of this property, who bought this building nearly 18 years ago, has meticulously renovated the property over the years. Notably, the owner just put a brand new roof on the property in 2020 and has renovated all 4 units in the past few years.The property brings in an impressive $13,517 in rental income per month ($3,379 per unit average) plus an addition $250 per month from garage rent. In total, the property earns more than $165,000 per year in gross income. With very little expenses or repairs needed to upkeep this easy to manage building, the buyer of this property can expect nearly $10,000 in net income each month before any loan payments.Since this offering is a 4-unit property, it qualifies for residential financing. The buyer/borrower will only need a 30% down payment (about $840k down), and they can receive a loan at a 3.625% interest rate. This loan quote is for a 7/1 ARM, meaning the interest rate would be fixed for 7 years and then adjust each year afterwards. Utilizing this loan, the buyer would receive a total return on this property of 5.5%!With an impressive walk score of 92, this property is located in one of the most desirable places to live in Los Angeles. It is near Sunset Blvd, Santa Monica Boulevard, Melrose Avenue and just minutes from Beverly Hills and Hollywood, and it is close to major LA freeways. Within a 15 minute drive, tenants can get to The Grove & Farmers Market, LACMA, MOCA, Pacific Design Center, Cedars - Sinai Medical Center, Staple Center, Disney Concert Hall, Hollywood Bowl -Walk of Fame and Mann's Chinese Theatre on Hollywood Boulevard. The Miracle Mile, La Brea Tar Pits and a handful of art galleries and museums are within walking distance, where tenants can find great options for shopping, restaurants and sightseeing.

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