2040 Sycamore Avenue

    Los Angeles (City), CA 90068
    • $3,745,000
    • STATUS: Active
    • ON SITE: 72 days
    • ID#: SR18216792
    UPDATED: 48 min ago
    $3,745,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,032
      SQFT
    • $415
      $/SQFT
    Type:
    Multi-Family
    Built:
    1992
    County:

    School Ratings & Info

    Description

    Amazing,rare opportunity to own four large, luxury apartments in the celebrity-filled Hollywood Hills with sweeping City views. NO RENT CONTROL! (built in 1992).The complex includes two adjacent duplex buildings, available together or separately. All units are individually metered for water, power and gas. One building features two 3+3.5 units (approx 2200 & 2600 sq ft) and the other building includes a 3+3 (approx 2400 sq ft) and a 2+2 (approx 1900 sq ft). The 3 bdrm units each have two very large terraces and the 2 bdrm has one large terrace....all with spectacular views! The leases all end within 3-4 months. The building at 2042 ( & 2044) Sycamore is priced at $1,950,000 and the 2038 (& 2040) building is $1,795,000. First time ever on market by estate of original owner, who did not raise rents on long term tenants. There is tremendous upside potential; just check the local rentals. Buildings are ideal for owner to live in one and lease the other for income. Seller wants to do a 1031 exchange, at no cost to buyer.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-17T07:31:47.517. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.bentongrouphomes.com/homes/87223292

    2040 Sycamore Avenue Los Angeles (City), CA 90068

    • Price: $3,745,000
    • Status: Active
    • Updated: 48 min ago
    • ID#: SR18216792
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    9,032
    SQFT
    $415
    $/SQFT
    1992
    Built
    Neighborhood:
    C03 - Sunset Strip - Hollywood Hills West
    County:
    Los Angeles
    Area:
    C03 - Sunset Strip - Hollywood Hills West
    Property Description
    Amazing,rare opportunity to own four large, luxury apartments in the celebrity-filled Hollywood Hills with sweeping City views. NO RENT CONTROL! (built in 1992).The complex includes two adjacent duplex buildings, available together or separately. All units are individually metered for water, power and gas. One building features two 3+3.5 units (approx 2200 & 2600 sq ft) and the other building includes a 3+3 (approx 2400 sq ft) and a 2+2 (approx 1900 sq ft). The 3 bdrm units each have two very large terraces and the 2 bdrm has one large terrace....all with spectacular views! The leases all end within 3-4 months. The building at 2042 ( & 2044) Sycamore is priced at $1,950,000 and the 2038 (& 2040) building is $1,795,000. First time ever on market by estate of original owner, who did not raise rents on long term tenants. There is tremendous upside potential; just check the local rentals. Buildings are ideal for owner to live in one and lease the other for income. Seller wants to do a 1031 exchange, at no cost to buyer.
    Exterior Features

    Construction Materials Stucco Garage Spaces 7.00 Lot Features Down Slope From StreetLot 10000-19999 SqftLot Shape-IrregularSprinklers In Front Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 8.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Paved View City Lights View YN Yes

    Interior Features

    Appliances DishwasherElectric OvenFreezerGas RangeRange/Stove HoodRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1900 Average2 Bed Area Units Square Feet Average3 Bed Area 2400 Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling CentralElectric Cooling YN Yes Fireplace Features Living RoomGas StarterWood Fireplace YN Yes Heating Central FurnaceNatural Gas Heating YN Yes Interior Features 2 Staircases Laundry Features In ClosetIndividual RoomInside Levels Three Or More Room Type KitchenLiving RoomMaster Suite

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsGuttersStorm DrainsUrban Country Us Elevation Units Feet Fuel Expense 0.00 Gardener Expense 1380.00 Gross Income 189000.00 Gross Scheduled Income 189000.00 Insurance Expense 6170.00 Land Lease YN No Laundry YN Yes Net Operating Income 169605.00 New Construction YN No New Taxes Expense 46813.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 5 Number Of Units Leased 4 Number With Dishwasher 4 Number With Disposal 4 Number With Range 4 Number With Refrigerator 4 Operating Expense 19395.00 Other Expense 1560.00 Other Expense Description Utilitie Property Sub Type Quadruplex Rent Control YN No Security Features Carbon Monoxide Detector(S)Smoke Detector Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesElectricityGasSewerWater Total Actual Rent 15750.00 Total Expenses 55923.00 Trash Expense 0.00 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Donald Underwood of Coldwell Banker.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-17T07:31:47.517. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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