455 N Sycamore Avenue, Los Angeles, CA 90036
Local realty services provided by:Better Homes and Gardens Real Estate Champions
455 N Sycamore Avenue,Los Angeles, CA 90036
$6,000,000
- 21 Beds
- 16 Baths
- - sq. ft.
- Multi-family
- Sold
Listed by:gabriel rudner
Office:aegis management, inc.
MLS#:25497763
Source:CRMLS
Sorry, we are unable to map this address
Price summary
- Price:$6,000,000
About this home
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 higher than the Subject Property. Four (4) competing rental properties from the immediate area were surveyed. (Please see within Financials, Rent Survey, and Rent Survey Map.) When one considers the property's location in the highly desirable Hancock Park adjacent area, the above average size of the units, and the popular nearby shopping and dining on Melrose Ave, a new owner should be able to implement prodigious rent growth here. Four (4) recent nearby apartment properties were selected as Recent Sales properties. They are similar in many respects, unit-mix, construction, parking, and especially year constructed. All of the Recent Sales presently have a historical designation similar to the Subject Property. (See Recent Sales and Recent Sales Map.) With an Asking Price of $7,200,000, this Offering is situated at a 15.23 GRM; at $500.77 $/SF; at a 4.22% CAP Rate and at $450,000 / Unit. These underlying fundamentals show the strong operating performance of the property and present a significant opportunity relative to the Recent Sales. (See Recent Sales and Financials.) In closing, the tremendous potential upside in rents as well as the desirable unit mix, unit size, prime location and strong operating performance available here present an opportunity for significant cash flow growth and appreciation over time for this asset.
Contact an agent
Home facts
- Year built:1930
- Listing ID #:25497763
- Added:240 day(s) ago
- Updated:October 11, 2025 at 04:23 PM
Rooms and interior
- Bedrooms:21
- Total bathrooms:16
Heating and cooling
- Cooling:Central Air
- Heating:Central
Structure and exterior
- Year built:1930
Finances and disclosures
- Price:$6,000,000
New listings near 455 N Sycamore Avenue
- New
$225,000Active2 beds 2 baths1,344 sq. ft.8831 Canoga Avenue #371, Canoga Park, CA 91304
MLS# SR25237089Listed by: FEDERICO J. TRIEBEL
- New
$875,000Active3 beds 2 baths1,202 sq. ft.5658 Columbus Avenue, Van Nuys, CA 91411
MLS# SW25237631Listed by: RISING REALTY GROUP - New
$5,295,000Active4 beds 5 baths4,608 sq. ft.574 Latimer Road, Santa Monica, CA 90402
MLS# CL25589615Listed by: AMALFI ESTATES - New
$2,995,000Active4 beds 3 baths3,200 sq. ft.5020 Bilmoor Avenue, Tarzana (los Angeles), CA 91356
MLS# CL25599737Listed by: THE AGENCY - New
$895,000Active4 beds 2 baths1,630 sq. ft.1246 W 48th Street, Los Angeles, CA 90037
MLS# CL25601645Listed by: BERKSHIRE HATHAWAY HOMESERVICES CALIFORNIA PROPERTIES - New
$1,045,000Active2 beds 3 baths1,584 sq. ft.390 S Sepulveda Boulevard #409, Los Angeles, CA 90049
MLS# CL25602251Listed by: CHRISTIE'S INTERNATIONAL REAL ESTATE SOCAL - New
$389,000Active2 beds 1 baths781 sq. ft.9600 Van Nuys Boulevard #102, Panorama City (los Angeles), CA 91402
MLS# CL25602417Listed by: PRESTIGE ESTATE AGENCY - New
$2,595,000Active4 beds 3 baths2,911 sq. ft.2327 Ewing Street, Los Angeles, CA 90039
MLS# CL25602753Listed by: KELLER WILLIAMS REALTY LOS FELIZ - New
$1,775,000Active4 beds 3 baths1,898 sq. ft.18033 Rosita Street, Encino (los Angeles), CA 91316
MLS# CL25603235Listed by: THE AGENCY - New
$1,140,000Active4 beds 3 baths2,330 sq. ft.5215 Baza Avenue, Woodland Hills (los Angeles), CA 91364
MLS# CL25603739Listed by: COMPASS
Protect your home and budget with an American Home Shield© home warranty. Learn more© 2025 Better Homes and Gardens Real Estate LLC. An Anywhere Real Estate company. All rights reserved. Better Homes and Gardens® Real Estate is a registered trademark owned by Meredith Operations Corporation, licensed to Better Homes and Gardens Real Estate LLC and used with permission. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but is not guaranteed accurate.
Each office is independently owned and operated.
Any services or products provided by third parties are not provided by, affiliated with or related to Better Homes and Gardens Real Estate LLC, or its affiliated companies.