2530 S Sycamore Ave
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2530 S Sycamore Ave
5 Unit Apartment Building $1,175,000 ($235,000/Unit) 5.50% Cap Rate Los Angeles, CA 90016
Investment Highlights
- Value-add Investment Opportunity located in West Adams
- Approximately 35% upside in potential rents
- Current 5.50% Cap Rate
- Located in an Opportunity Zone - Excellent for Tax Benefits
Executive Summary
The Davis Saadian Group is pleased to offer the opportunity to acquire this five (5) unit multifamily investment opportunity located at 2530 S. Sycamore Avenue, in the City of Los Angeles. This two-story building, single structure, was constructed of wood frame and stucco on a raised foundation built in 1956 with a square footage of 3,430 on a 5,003-square foot lot. The site falls within an Opportunity Zone, excellent for tax benefits, and zoned LAR3, TOC Tier 1. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 1+1 units, and two (2) 2+1 units. The subject property has one (1) vacant 1+1 unit (Currently being updated and remodeled). The investment boasts spacious floor plans, secured gated entry, five (5) on-site parking spaces, updated copper plumbing, and individually metered for gas and electricity. * The neighboring parcel (2524 S. Sycamore Avenue) is also available for sale, which consists of a SFR, with a lot size for 5,331-SF, zoned LAR3. A rare and incredible development opportunity. Seismic retrofitting has been completely taken care of, built with permits.
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB THE TENANTS.
2) Submit Offer on a CAR Residential-Income Purchase Agreement.
3) Interior Inspection/Books & Records Granted with an Accepted Offer.
4) Submit Proof of Funds & Pre-Qualification Letter with Offer.
5) Seller Selects all Services.
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB THE TENANTS.
2) Submit Offer on a CAR Residential-Income Purchase Agreement.
3) Interior Inspection/Books & Records Granted with an Accepted Offer.
4) Submit Proof of Funds & Pre-Qualification Letter with Offer.
5) Seller Selects all Services.
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information provided, including square footage, lot size, permitted or un-permitted spaces, and/or bedroom/bathroom count. Buyer is advised to independently verify the accuracy of this information through personal inspections and/or with appropriate professionals. Buyer bears all risk for any inaccuracies.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$88,356
|
$25.76
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,356
|
$25.76
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$23,704
|
$6.91
|
| Net Operating Income |
$64,652
|
$18.85
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $88,356 |
| Annual Per SF | $25.76 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $88,356 |
| Annual Per SF | $25.76 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $23,704 |
| Annual Per SF | $6.91 |
| Net Operating Income | |
|---|---|
| Annual | $64,652 |
| Annual Per SF | $18.85 |
Property Facts
| Price | $1,175,000 | Building Class | C |
| Price Per Unit | $235,000 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 3,430 SF |
| Cap Rate | 5.50% | Average Occupancy | 80% |
| Gross Rent Multiplier | 13.3 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1956/2015 |
| Property Type | Multifamily | Parking Ratio | 1.46/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $1,175,000 |
| Price Per Unit | $235,000 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 13.3 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,430 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built/Renovated | 1956/2015 |
| Parking Ratio | 1.46/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,126 | 650 |
| 1+1 | 1 | $1,331 | 650 |
| 1+1 | 1 | $1,750 | 650 |
| 2+1 | 1 | $1,082 | 800 |
| 2+1 | 1 | $2,074 | 800 |
1 of 1
Walk Score ®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 5049-009-078 | Improvements Assessment | $205,880 (2024) |
| Land Assessment | $227,179 (2024) | Total Assessment | $433,059 (2024) |
PROPERTY TAXES
Parcel Number
5049-009-078
Land Assessment
$227,179 (2024)
Improvements Assessment
$205,880 (2024)
Total Assessment
$433,059 (2024)
zoning
| Zoning Code | R3-1, City of L.A. |
| R3-1, City of L.A. |
-
Davis Saadian -
Davis Saadian Group
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