Description
Maher Commercial Realty is pleased to offer 2101 S. Sycamore, a well-maintained and pride-of-ownership value-add fourplex, located in a prime Mid City/Mid Los Angeles neighborhood, surrounded by new construction and close proximity to hip retail and restaurant amenities. The subject building has 1 x 2 bed/1 bath units, and 3 x 1 bed/1 bath units. Some of the units have been updated. The 2-bedroom unit will be delivered vacant at close of escrow, making this a perfect owner-user house-hack property, or value-add investment. There is approximately 51% upside in rents. All units have their own washer and dryer.
The property sits on the corner of S. Sycamore and W. 21st St on a large 6,418 square foot parcel zoned LARD2. The tenants benefit from a large, nicely landscaped front and side yard, private patio, private balconies, and four single car garages in the back accessed by an alley. The back garages present an excellent ADU conversion opportunity. This building has been well-maintained and has good bones.
Excellent location in the heart of the Mid City neighborhood minutes from the 10 Freeway. Close to all the shopping and dining on Western Avenue. Only five miles from Exposition Park and the University of Southern California. Seven miles to downtown Los Angeles.
Property Features:
- List Price: $1,295,000
- Building Size: 2,720 Sq.Ft.
- Lot Size: 6,490 Sq.Ft.
- Price Per Sq.Ft. On Land: $199.53
- Price Per Sq.Ft. On Building: $476.10
- Zoning: LARD2
- Number of Units: 4
- APN: 5062-011-024
- Gross Operating Income: $93,228
- NOI: $65,259
- Cap Rate: 5.0%
- GRM: 13.89
