Now presenting for sale The Hollywood Sycamore Tower Apartments located in arguably the best location in all of Hollywood. This unique, one-of-a-kind property is being offered for sale for the first time from the original builder/developer and operator from 1968 until now. This 42-Unit apartment community is located in the highly sought-after Hollywood Hills sub-market and is adjacent to the iconic Magic Castle and Yamashiro Restaurant, popular Runyan Canyon hiking trails, Hollywood and Highland and Franklin Avenue. The property provides a unique opportunity with strong & stable in-place income and further rental upside within one of the best rental markets in Los Angeles. The Hollywood Sycamore Tower, consists of a Four (4) story, center hall plan apartment complex, constructed in 1968, with an excellent unit composition of Single/One Bath, One Bedroom/One Bath and One Bedroom w/ Den and Two Bath Units. The building amenity package includes elevator service, trash receptacles and laundry on all three residential levels. Gated intercom entry and parking for nearly all residents. Additional amenities include a heated swimming pool, sauna, fitness area and two bathrooms (in various levels of renovation). Select upper units have City Lights views and/or Hollywood Hills views. Thanks to its neighborhood feel, the Hollywood Hills is the perfect area for young professionals looking for a vibrant location and a community feel. The immediate area is continually growing with an ever-increasing mix of stylish boutiques, restaurants, bars, coffee shops, and everything in between. The Hollywood Sycamore Tower has the potential to achieve significant future rental income growth through unit upgrades /enhancements since most units are rented at approx. 40% below current market rents. The Hollywood Sycamore Tower is fully parked for all residents. The property is NOT on the list of buildings that require a soft-story seismic retrofit.
- Price:
- $12,500,000
- Square Footage:
- 31,959
- Acreage:
- 0.36
- Year Built:
- 1968
- Listing ID #:
- SR22254772
- Street Address:
- 1784 N Sycamore Ave
- City:
- Hollywood
- State:
- California
- Postal Code:
- 90028
- County:
- Los Angeles
- Community:
- Hollywood
- Listing Status:
- Active Under Contract
- Listing Type:
- Residential Income
- Building Security:
- Resident Manager, Security Lights
- Number Of Units:
- 42
- Total # Of Buildings:
- 1
- Total Building Square Footage:
- 31959
- Walls:
- 2+ Common Walls
- Year Built:
- 1968
- Year Built Source:
- Assessor
- Annual Electric Expenses:
- 14589
- Annual Insurance Expenses:
- 10146
- Annual Trash Expenses:
- 14834
- Annual Water/Sewer Expenses:
- 20272
- Gross Income:
- 749520
- Net Operating Income:
- 415966
- Operating Expense:
- 318563
- Approximate Lot Size Range Source:
- Assessor
- Conforms To Zoning:
- Lar4
- Lot Size:
- 15750
- Lot Square Footage:
- 15750
- Community Features:
- Curbs, Street Lights, Sidewalks, Urban
- Days On Market:
- 99
- On Market Date:
- 2022-12-12
- Originating Mls:
- Crmls
- Terms:
- Cash, Cash To New Loan
- Laundry:
- Common Area
- Parking Description:
- Controlled Entrance, Gated
- Pool:
- Yes
- Pool Description:
- Heated, Indoor, Private
- Existing Water:
- Public
- Sewage Type:
- Public Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Agent Michael Tootikian 818-613-0006 with Keller Williams Realty-Studio City
