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321 N Sycamore Avenue

Los Angeles, CA 90036
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Bed 10

Bed

Bath 6

Bath

SqFt7,340

Sqft

SqFt7,504

Sqft(Lot)

We are pleased to present 321 N Sycamore Avenue, a 4-unit courtyard building offered for sale in the Miracle Mile/Mid-Wilshire submarket of Los Angeles. Built in 1927 and held under the same ownership for over 40 years, the property comes to market for the first time in a generation. The property offers two 3+2 and two 2+1 units totaling approximately 7,340 SF on a 7,502 SF LAR3-zoned lot. The 3+2 units are approximately 1,950 SF each, substantially oversized relative to the submarket and well suited to attract long-term, high-quality tenants. The front 3+2 unit is being delivered vacant at close of escrow, providing an incoming buyer with immediate ability to renovate and lease at market rate with no displacement risk. The vacant unit also presents a compelling owner-user opportunity, all owing a buyer to occupy a large, character-filled 3+2 home in one of Los Angeles' most desirable mid-city neighborhoods while the remaining three units offset carrying costs. Priced at $2,200,000, the offering equates to $550,000 per unit and $299 per gross SF, representing an attractive entry basis for the submarket. Two of four units are significantly below market, with pro forma rents underwritten at $3,750 per month for 2+1 units and $4,625 per month for 3+2 units, driving a pro forma CAP rate of 6.18% and a market GRM of 10.95 against a 3.27% current CAP and16.92 current GRM. The LAR3 zoning and existing detached garage create a viable pathway for ADU conversion. The garage could be converted into an additional dwelling unit without replacing the parking, potentially adding a rentable unit to the property, increasing gross income, and meaningfully compressing the effective per-unit basis (buyer to verify). The property sits within the Citrus Square Historical District, with walkable access to Beverly Hills, West Hollywood, Cedars-Sinai Medical Center, and the Museum Row corridor along Wilshire Boulevard. The submarket is characterized by deep renter demand, minimal new supply, and consistently low vacancy, supported by some of the strongest household income demographics in LA.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,200,000

AD Id : 91554155

MLS Id : 26994213

Beds : 10

Lot Size : 7,504 Sq. Ft

Living Area Size : 7,340 Sq. Ft

Year Built : 1927

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 10

    Bathroom Information

    Total Baths: 6
  • Heating & Cooling

    Heating: None Cooling: None

  • Building Information

    Year Built: 1927
    Building Area Total: 7340
    Stories: 2
    Private Pool: No

  • Lot Information

    Main Square Feet: 7504 Lot Size Acres: 0.1723 Lot Size Square Feet: 7,504

  • Listing Price Information

    Listing Price: $2200000

  • Tax Information

    Parcel Number: 5525032017

  • Location Information

    Direction: N Sycamore between Beverly Blvd & Oakwood Ave, East of N La Brea Ave.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
457 N Stanley, Los Angeles, CA, 90036 $1,750,000 5 5 -- 6,362 Sq. Ft

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ByOwner last updated this listing 09/29/2026 @ 18:43

MLS: 26994213 LISTED BY: Neema Ahadian, Marcus & Millichap 310-909-5500 SOURCE: CRMLS

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