Sycamore House

1321 N Sycamore Ave, Los Angeles, CA 90028

  • For Sale $17,500,000
  • Property Type Multi-Family
  • Property Size 32,121 SF
  • Units 39
  • Lot Size 0.37 Acre
  • Additional Rent Contact for pricing
  • Building Class A
  • Year Built 1987
  • Year Renovated 2013
  • Date Updated Aug 13, 2024
The Property is located one block east of La Brea Avenue, a major regional corridor, and one block north of the West Hollywood border with easy access to Hollywood, Beverly Hills and the San Fernando Valley. This is an historically strong submarket for residential properties with an enticing mix of retail and dining options nearby, particularly in the Sycamore District.Sycamore House located at 1321 North Sycamore Avenue is a 32,121 square foot apartment building comprised of 39 units (6x Studio, 15x 1Bd/1Ba, 3x 2Bd/2Ba and 15x 2Bd/Ba) on 16,075 square feet of land. It is comprised of three stories with an additional parking level below-grade. The Subject Property was constructed in 1987 and, as such, is a non-rent controlled asset. It was fully renovated in 2013 and units feature a number of highly-desirable improvements including quartz countertops, stainless steel sinks, white tile backsplashes and high-end wood plank flooring. The common areas feature a fitness center with dry sauna, fireside lounge, gas barbecue and laundry facilities on each floor. Currently operating as a student housing facility for the American Academy of Dramatic Arts (AADA), an accredited university, the Property has the advantage of no existing leaseholds or tenant issues. The Property will be delivered approximately fifty percent vacant at the close of escrow, with the remaining half leased at market rates by AADA through July 2025. This will provide a buyer with the opportunity to renovate or lease up the vacant spaces and achieve market rates well within the first year of operation.

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Highlights

  • ? Renovated, Non-Rent Controlled Asset Between Two of Los Angeles’ Most Coveted Submarkets – Hollywood and West Hollywood
  • ? Core-Plus Asset
  • ? Approximately $1M in CapEx Spent over the Last Ten Years.
  • ? Stainless Steel Appliances, Quartz Countertops, Wood Flooring, Trespa Wood Balconies, Glass Front Lobby, Fitness Center, Bright Central Lightwell, Outdoor Dining Area.
  • ? Near Immediate Ability to Bring Full Market Rents to All Units.
  • ? Micro-Market Incredibly Rich in Cultural and Entertainment Amenities.
  • ? Proximate to Numerous Mass Transit Options.
  • ? Easily Accessible from Most of the Los Angeles Basin.
  • ? Exceptional 65 Stall Parking for 39 Units/57 Bedrooms.
  • ? Laundry Facilities on Every Floor.

Contacts

broker

Christopher Bonbright

Avison Young - US - CA - Los Angeles

Location

Getting Around

  • Walk Score ®

    95/100 Walker's Paradise

  • Transit Score ®

    65/100 Good Transit

  • Bike Score ®

    64/100 Bikeable
Powered by Walk Score ®
  • City Los Angeles, CA
  • Neighborhood Hollywood
  • Zip Code 90028
  • Market Los Angeles

Points of Interest

  • Farmer's Market

    1.84 miles

  • Vermont/Santa Monica North Entrance

    2.95 miles

  • Vermont/Santa Monica South Entrance

    2.97 miles

  • Vermont/Sunset Entrance

    2.97 miles

  • RideShare Pickup/Dropoff Point

    2.99 miles

  • Vermont/Beverly

    3.20 miles

  • Universal City/Studio City

    3.26 miles

  • Wilshire/Vermont

    3.75 miles

  • Westlake/MacArthur Park

    4.65 miles

  • Culver City

    5.33 miles

  • Mobil

    0.20 miles

  • Arco

    0.25 miles

  • Mobil

    0.40 miles

  • 76

    0.52 miles

  • Valero

    0.65 miles

  • Speedway Express

    0.74 miles

  • Chevron

    0.82 miles

  • Mobil

    0.82 miles

  • Mobil

    0.97 miles

  • Mobil

    1.05 miles

  • Northwest Plaza Parking Lot

    0.42 miles

  • C Lot

    0.46 miles

  • Formosa Parking Lot

    0.47 miles

  • Hollywood & Highland Center

    0.56 miles

  • Parking Lot D

    0.63 miles

  • Parking Lot E

    0.65 miles

  • Parking Lot A

    0.68 miles

  • Parking Lot B

    0.70 miles

  • Parking Lot C

    0.73 miles

  • Hilton Garden Inn Valet

    0.85 miles

  • Kent Orange House

    0.09 miles

  • Comfort Inn

    0.24 miles

  • Days Inn Hollywood/Universal Studios

    0.24 miles

  • Hollywood Studio Inn & Suites

    0.25 miles

  • Budget Inn Hollywood

    0.27 miles

  • Quality Inn Near Hollywood Walk Of Fame

    0.28 miles

  • Rodeway Inn Hollywood

    0.28 miles

  • Quality Inn Hollywood

    0.28 miles

  • Saharan Motor Hotel

    0.31 miles

  • Hollywood Guest Inn

    0.41 miles

  • Ohana Hawaiian BBQ

    0.18 miles

  • Subway

    0.19 miles

  • Tacos el Gavilan

    0.20 miles

  • IHOP

    0.21 miles

  • Burger King

    0.23 miles

  • McDonald's

    0.23 miles

  • El Pollo Loco

    0.23 miles

  • In-N-Out Burger

    0.24 miles

  • Pa Ord Noodle

    0.25 miles

  • Wendy's

    0.25 miles

  • American Academy of Dramatic Arts

    0.03 miles

  • Hollywood Senior High School

    0.33 miles

  • Hollywood High School

    0.33 miles

  • Blessed Sacrament School

    0.33 miles

  • Musicians Institute

    0.53 miles

  • Gardner Street Elementary School

    0.57 miles

  • Hubert Howe Bancroft Middle School

    0.59 miles

  • Yeshiva Ohr Elchonon Chabad West Coast Talmudical Seminary

    0.68 miles

  • Melrose Avenue Elementary School

    0.74 miles

  • Melrose Elementary School

    0.75 miles

  • Vine Street Early Education Center

    0.99 miles

  • Komitas

    3.23 miles

  • Inti Wasi Preschool

    3.75 miles

  • Coldwater Preschool

    3.93 miles

  • Gan Yaffa

    4.22 miles

  • Neighborhood Nursery School

    4.57 miles

  • A Child's Place

    4.72 miles

  • Play Mountain Place

    4.72 miles

  • Valentina's Preschool

    4.75 miles

  • Green Beginning Preschool

    5.12 miles

Frequently Asked Questions

How much does Sycamore House cost?

The space currently listed for sale at Sycamore House asks for $17,500,000.

What is the total square footage of Sycamore House?

Sycamore House totals 32,121 square feet.

When was this property built?

Sycamore House was built in 1987.

Looking for more in-depth information on this property?

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Contact Listing Broker

broker

Christopher Bonbright

Avison Young - US - CA - Los Angeles