1055 S Sycamore Ave
Los Angeles, CA 90019
Charming Spanish in Miracle Mile · Multifamily Property For Sale · 5 Units

1055 South Sycamore is a charming 5-unit Spanish style building for sale near sought after Miracle Mile in Los Angeles for $1,850,000 ($370,000 per unit). Residents can walk approximately five blocks to the new Wilshire/La Brea Metro Station (currently under construction). The current ownership has completed major renovations to the interior and exterior, including new plumbing, electrical, air-conditioning and heating. The property boasts six decks and/or patios, including a penthouse unit with a large upper deck with 360 degree views. 1055 South Sycamore offers an investor a great value-add opportunity. The property will be sold in "as-is" condition, with the pending renovations to be completed by the new owner. With much of the heavy lifting completed, an investor will have the opportunity to select their own finishes (flooring, cabinets, countertops, fixtures, and appliances) and complete the renovations to their desired level of luxury. Currently, only one of the five units is occupied. All 5 units have washer and dryer hookups. Because the units are vacant (4 out of 5), an investor will need to purchase the property all-cash or secure private financing. Unit mix: 4 - one bed/one bath and 1 - one bed/one bath Penthouse with two decks.