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$7,200,000
Est. payment /mo
14,378 SqFt
UPDATED:
02/20/2025 02:26 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 14,378 sqft
Price per Sqft $500
MLS Listing ID CL25497763
HOA Y/N No
Year Built 1930
Lot Size 0.348 Acres
Acres 0.35
Property Sub-Type Other
Property Description
Owned and meticulously cared for by the same owners for over 60 years, The Sycamore, a (16) unit apartment property just south of Melrose and adjacent to Hancock Park is one of the last great projects of architect Charles Gault. The Sycamore has many of the key features of Gault's architectural style, including a courtyard with a gorgeous fountain, a grand arched opening, a public fireplace and grilled windows. The property is named in the National Register of Historic Places, which grants it special building codes to aid in restoration and certain tax advantages through the Federal Rehabilitation Tax Credit. The property is located two blocks south of Melrose Ave, a popular dining and shopping district. (See included Area Map for more information.) The building is comprised of eight (8) one bedroom units, six (6) two bedroom units, and two (2) studio units. It was built in 1930 and has fifteen (15) parking spaces on the adjacent alley. These apartments are subject to the city of Los Angeles's Rent Stabilization Ordinance. The units are very large relative to many comparable properties in the area and several have private outdoor space for tenants. Indicative of the strong demand in the local area, the property has no vacancies, with the local Market Rents nearby substantially hi
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Flooring Tile, Vinyl, Wood
Fireplace No
Laundry Community Facility
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5525029022
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Listed by Gabriel Rudner • Aegis Management, Inc.
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122