1215 N Sycamore Ave, Los Angeles, CA 90038
FOR SALE0.27 ACRES

1215 N Sycamore Ave
Los Angeles, CA 90038

Hollywood
  • 47 Beds
  • 43 Baths
  • 27,640 sqft (on 0.27 acres)
  • 47 Beds
  • 43 Baths
  • 27,640 sqft (on 0.27 acres)

$12,300,000

Est. Mortgage $77,828/mo*
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Local Information

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Description

We are pleased to present 1215 N Sycamore Ave, a 28-unit value-add multifamily investment opportunity located in LA's ultra-prime Sycamore District of Hollywood, LA Proper. Situated just north of Santa Monica Blvd and east of La Brea Ave, the property is adjacent to what the LA Times calls LA's coolest new neighborhood. It boasts a WalkScore of 95 (Walker's Paradise) and is located 0.8 miles from the B Line (formerly the Red Line) Metro station. Built in 1989 and exempt from Los Angeles Rent Control, the property is comprised of 28 units with an exceptional mix of 68% 2-bedroom units, including 15 (2+2), 4 (2+1), and 9 (1+1) units, averaging approximately 987 gross square feet each. The 27,640-square-foot building stands on an 11,688-square-foot lot zoned LARD1.5-1XL. All units feature a balcony or patio and large windows that allow for ample natural light, full kitchens with built-in ovens, dishwashers, refrigerators, and microwaves, providing modern comfort. Some units offer views of Hollywood, West Hollywood, and the LA Basin, and include stainless-steel appliances, high-quality wood cabinets, laminated wood floors, and decorative fireplaces, adding a touch of elegance to select units. The property features a gated entry, a garden, a courtyard/patio, on-site laundry, and ample subterranean parking with more than 1 space per bedroom, allowing for at least 3 visitor parking spaces. Comprehensive security features include security cameras, an intercom system, and secure gated covered subterranean parking. The building also offers central air conditioning/heating, elevator access to all levels, and is separately metered for gas and electricity. Boasting an outstanding Walk Score of 95, 1215 N Sycamore Ave is at the center of Hollywood's most dynamic submarket, just a few blocks north of the Sycamore District, The Lot at Formosa, and Showtime Studios. It is 2 blocks away from the West Hollywood Gateway, which features retail shopping including Target, Best Buy, CVS, Ulta, Mendocino Farms, & Starbucks, and is located near one of the hottest members-only concept fitness clubs HEIMAT. Adding to an already bustling neighborhood, CIM Group acquired 1.6 acres of land with plans to develop the tallest building in West Hollywood called 1000 La Brea. The towering 34-story building will feature 514 apartments on its upper floors and would include approximately 30,000 square feet of commercial space, dedicated to a grocery store. Other elements of the project include parking for 674 vehicles and 393 bicycles. This exceptional location offers residents unmatched access to career centers, educational institutions, restaurants, nightlife, shopping, and recreation (1 mile north to Runyon Canyon), all within one of the most walkable and high-demand locations in Southern California. Conveniently located just one block north of CA-2, 0.8 miles from the B Line Metro station, and 1.8 miles from the CA 101 freeway, the property ensures easy access to the city's extensive transit network and LA attractions. Ideally positioned in the heart of the Sycamore District, this well-maintained asset offers significant rental upside (32%+ rental upside) in a dynamic, thriving, and centrally located submarket. It presents an astute investor with the potential to add significant value, appreciation, and strong returns, supported by high tenant demand for a quality living experience in one of Los Angeles's most dynamic neighborhoods in the Western United States.

Home Highlights

Parking
Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$445
Listed
47 days ago

Home Details for 1215 N Sycamore Ave

Interior Features

Beds & Baths
Number of Bedrooms: 47Number of Bathrooms: 43
Dimensions and Layout
Living Area: 27640 Square Feet
Appliances & Utilities
Appliances: Microwave, Dishwasher, Range/Oven, RefrigeratorDishwasherLaundry: Common Area,Laundry AreaMicrowaveRefrigerator
Heating & Cooling
Heating: CentralHas CoolingAir Conditioning: Central Air,Ceiling Fan(s)Has HeatingHeating Fuel: Central
Levels, Entrance, & Accessibility
Stories: 4Levels: Three Or More

Exterior Features

Exterior Home Features
Other Structures: None
Parking & Garage
Number of Garage Spaces: 49Number of Covered Spaces: 49No CarportHas a GarageNo Attached GarageParking Spaces: 49Parking: Garage

Days on Market

Days on Market: 47

Property Information

Year Built
Year Built: 1989
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family

Price & Status

Price
List Price: $12,300,000Price Per Sqft: $445

Active Status

MLS Status: Active

Location

Direction & Address
City: Los Angeles

Agent Information

Listing Agent
Listing ID: 24-367427

Building

Building Area
Building Area: 27640 Square Feet

Lot Information

Lot Area: 0.27 acres

Listing Info

Special Conditions: Standard

Compensation

Buyer Agency Commission: 1.5Buyer Agency Commission Type: %
Notes
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed

Miscellaneous

Mls Number: 24-367427
Last check for updates: about 12 hours ago
Listing courtesy of Matthew R. Kanner DRE # 01349203, (323) 664-9033
Keller Williams Realty Los Feliz, (323) 300-1000
Source: CLAW, MLS#24-367427

Price History for 1215 N Sycamore Ave

DatePriceEventSource
03/12/2024$12,300,000Listed For SaleCLAW #24-367427

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Neighborhood Overview

Hollywood
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Hollywood

  • Lou
    "Nothing it’s garbage. Dog poop everywhere. No parking. Trash everywhere. Can’t wait to move out of here. Traffic is insane too"
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  • Sugar1975
    "Friendliest families that have lived on Lemon Grove and Hobart for over 15 years. Lemon Grove Park and Melrose Hills make for a nice late afternoon walk with our two toddlers. "
    0
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  • R
    "It’s an evolving neighborhood that with gentrification its becoming safer but more expensive. So only the people that have a good source of income will be able to enjoy what will become of this area in the near future"
    7
    Flag
  • Trulia User
    " People don’t clean up after their dogs poop. "
    4
    Flag
  • Momo Yang
    "near police station but not safe that much since they are doing nothing. quite but many homeless people."
    4
    Flag
  • Trulia User
    "There is plenty of place for the dogs to use the bathroom. Very well maintained areas. Beautiful walks"
    0
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  • Trulia User
    "No one picks up after their dogs. Even with the signs posted everywhere, there is dog feces all over the place. "
    1
    Flag
  • Trulia User
    "other people don't pick up after there dogs. even thought it is a residential area cars still speed."
    0
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  • Trulia User
    "high traffic in this area and around hollywood bowl. not very pleasant but can be convenient at times."
    2
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  • Trulia User
    "I don’t like that others don’t pick up their dogs poop. You need to watch out where your walking. But schools are close. There are parks that kids can play. I feel safe walking after dark.. also there are a lot of eating place and small grocery shops. Near bus stations. Accessible to everything."
    0
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  • Trulia User
    "8-35 minutes to DTLA. 30-70 minutes to the coast. Can’t complain about either! Hollywood is pretty central to everything LA has to offer. "
    4
    Flag
  • Trulia User
    "There are many different music venues nearby that allow for community events. A lot of the local bars are fun places to hangout at!"
    3
    Flag
  • Trulia User
    "I can't think of any community events in the area. mostly tourist traps and retail stores. ......,.......... "
    2
    Flag
  • Trulia User
    "Larchmont has a feel of small town quaintness and a great sense of community while being centrally located to everything "
    12
    Flag
  • Trulia User
    "Very loud all the time. Very expensive. I feel on edge walking around. All in all a bad deal. "
    14
    Flag
  • Trulia User
    "Bought here over a year ago and for a new young homeowner, the area feels lively but still safe. Enjoy the area"
    2
    Flag
  • Trulia User
    "People and their culture. Different races represented from around the world. Different varieties of food too. "
    3
    Flag
  • Trulia User
    "Love my neighborhood very safe all neighbors are like family to each other I grew up at this neighborhood and now my kids grew up here as well most of my neighbors are living here ever since i can remember"
    0
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  • Trulia User
    "It’s a safe, clean and nice neighborhood to live. People are friendly here. A lot of place to park☺️ "
    1
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  • Trulia User
    "Hollywood is and always will be a dangerous place to live. It’s close to most things so it’s convenient but everything else is constantly sketchy "
    4
    Flag
  • Trulia User
    "Runyon is always available during daylight. Cute coffee shops and eateries abound. Watch the sunset on Mulholland daily. Check out a film/TV screening. So much more. "
    0
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  • Trulia User
    "nothing. it sucks crime is getting worse homeless out of control . garbage everywhere, no sense of community, traffic terrible "
    0
    Flag
  • Trulia User
    "It’s a very beautiful neighborhood perfect for walking your dog, however, if you your dog is older or has physical difficulties it would be hard on your dog because there are lots of steep inclined hills. "
    0
    Flag
  • Trulia User
    "I see dog owners walk their dogs every day, anytime. You’ll see a lot of people taking a stroll anytime of any day. You’ll see a lot of joggers too, they’ll be running any time except for (high afternoons when the sun is at its highest). There are tons of park to visit with your family. The only downside here is that there are homeless everywhere. That and the real estate is pretty expensive."
    0
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  • Trulia User
    "Dog friendly but always watch where you’re walking because some dog owners do not pick up after their pets "
    0
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  • Trulia User
    "Good public transportation , close to markets and retail stores and medical facilities. There is direct freeway access to downtown pluses busses and subway"
    0
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  • Trulia User
    "there are always events and attractions that very unique to hollywood. my doorstep is two blocks away from the Walk of Fame, as I am entering you this I am walking down Hollywood boulevard stepping over Stars as I walked past hard Rock Cafe and the Hollywood highland Mall and approaching Ripley's Believe it or not museum. it is impossible to spend an hour or two in Hollywood and not realize you are in Hollywood. "
    0
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  • Trulia User
    "It’s touristy, there are lots of temporary residents and transients in this area. Homeless exist, crime exists. It’s not terrible, and there are some nice parts. Very mixed bag"
    0
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  • Trulia User
    "Near freeways. All good. Take the metro train DT. Great public transportation. Good shopping and takeout nearby. Love my Gelsons"
    0
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  • Trulia User
    "Safe neighborhood. Cleanliness. I feel safe walking my dog, going on jogs, even leaving my door unlocked! "
    0
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  • Trulia User
    "It’s clean, well maintained, nice and very close to everything. We have Runyon canyon and clues to West Hollywood, Beverly Hills and many theaters and museums."
    0
    Flag
  • Trulia User
    "Hollywood Studio District is great! We’ve lived here a few years and love it. Diversity of people, restaurants. Central location, easy to get anywhere in LA."
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  • Trulia User
    "The surrounding area is difficult to navigate because of rampant vagrancy along the streets and sidewalks. "
    0
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  • Trulia User
    "Not very kids friendly but good location for going to different parks in the city, Pan pacific, Griffith"
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  • Trulia User
    "mixed bag of good and bad, I wouldn't suggest this neighborhood for families but for a young couple or roommates it is alot of fun."
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  • Kyle M.
    "Fast (potentially dangerous) neighborhood and surrounding traffic, loud noises at all hours, homeless presence is significant, crime is present but not overly terrible, and ironically street parking is surprisingly ok. Mostly, the Melrose, Highland and Santa Monica traffic and general noise are primary downsides."
    32
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  • Patrick C.
    "Would be a great neighborhood. It’s super walkable, great restaurants and bars, but constant sirens and police helicopters. Having said that it’s actually pretty safe just very loud and dirty. And there is a significant homeless issue."
    86
    Flag
  • Whitlynnb
    "There is significant crime and streets are not very safe for kids to play near. I live in Melrose Hill which is literally a charming residential utopia in the middle of madness so my take on Hollywood is a bit skewed"
    4
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  • Unspecified
    "To crowded and many people with cars makes it hard to find parking around your place areas never clean "
    1
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  • Tatianka
    "It’s pretty safe but many homeless people. I heard high school is not very good. Some areas like hollywood hills is very nice and safe"
    2
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LGBTQ Local Legal Protections

Matthew R. Kanner, Keller Williams Realty Los Feliz
© 2024 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2024-01-24 14:45:40 PST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
1215 N Sycamore Ave, Los Angeles, CA 90038 is a 47 bedroom, 43 bathroom, 27,640 sqft multi-family built in 1989. 1215 N Sycamore Ave is located in Hollywood, Los Angeles. This property is currently available for sale and was listed by CLAW on Mar 12, 2024. The MLS # for this home is MLS# 24-367427.