1623 S Sycamore Avenue, Los Angeles, California 90019, Los Angeles, 90019 - bed, bath

1623 S Sycamore Avenue, Los Angeles, California 90019 home-pic-0
ACTIVE$1,400,000
1623 S Sycamore Avenue, Los Angeles, California 90019
0Bed
0Bath
3,140Sqft
5,629Lot
Year Built
1945
Close
-
List price
$1.4M
Original List price
$1.4M
Price/Sqft
$446
HOA
-
Days on market
-
Sold On
-
MLS number
DW25117533
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.40M(54th), sqft - 3140(46th), beds - undefined(50th), baths - undefined(50th).

RARE OPPORTUNITY IN THIS MIRACLE MILE ADJACENT PROPERTY OFFERING 2 VACANT UNITS! Ready to move in 3 Bedroom/2 Baths & 2 Bedroom/1 Bath. Discover this exceptional 4-unit income property at 1623 S. Sycamore Ave, offering a compelling investment proposition with immediate upside. Boasting a total of 7 bedrooms and 5 baths across 3,140 sqft of living space on a generous 5,627 sqft LARD 1.5 zoned lot, the possibilities are significant. Two units are currently vacant, providing an immediate opportunity for an owner-user to live in one unit while renovating the others, or for an investor to quickly bring units to market rates and maximize rental income. The LARD 1.5 zoning also presents intriguing development potential for savvy investors looking to explore additional density in a high-demand area. Located moments from world-class attractions, residents will enjoy easy access to The Grove, The Original Farmers Market and Los Angeles Los Angeles County Museum of Art. This vibrant location offers an unparalleled lifestyle with trendy dining, upscale shopping, and cultural landmarks at your fingertips

Condition Rating
Fair

The property was built in 1945. The images show that the interior has been updated with laminate flooring and fresh paint. However, the kitchen and bathrooms appear dated with older appliances and fixtures. Overall, the property seems maintained but requires further updates to meet modern standards.
Pros & Cons

Pros

Income Potential: The property offers a significant income potential with two vacant units ready to be rented at market rates.
Development Opportunity: The LARD 1.5 zoning provides an opportunity for further development and increased density.
Prime Location: Located in Miracle Mile adjacent, offering easy access to The Grove, Farmers Market, and LACMA.
Large Living Space: The property features a total of 3,140 sqft of living space, accommodating multiple units comfortably.
Owner-User Opportunity: The vacant units allow for an owner-user to live in one unit while renovating or renting the others.

Cons

Age of Property: Built in 1945, the property may require updates and maintenance to meet modern standards.
Potential Renovation Costs: While the vacant units present an opportunity, they may also require renovation to maximize rental income.
Competition: The Miracle Mile area is a high-demand area, meaning there will be competition from other similar properties.

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