$3,790,000
"Proven and Durable Income Stream" A rare opportunity to acquire a purpose-built, income-driven luxury fourplex in the heart of prime Mid-City Los Angeles. 1842-1844 S. Sycamore Avenue is a fully permitted, non-rent-controlled (not subject to RSO) asset offering exceptional scale, flexibility, and strong in-place performance, tailored to the sophisticated short-term rental investor. The short-term rental operation generates over $500,000 in gross annual income, supporting a market-leading 9.3 % cap rate and an estimated NOI of approximately $353,000, based on the current list price and a full operating expense assumption. This level of yield is exceptional for Los Angeles and difficult to replicate with traditional multifamily assets. For buyers evaluating a stabilized long-term rental strategy, the property also supports a projected NOI of approximately $231,000, representing an estimated 6.09 % cap rate based on projected market rents and standard operating expenses.Built in 2022, this modern fourplex sits on a 6,253-square-foot lot and consists of four expansive six-bedroom, five-bathroom residences (24 bedrooms, 20 bathrooms total), encompassing approximately 6,623 square feet (per public records). Each residence is finished to a luxury hospitality standard, featuring European-style designer kitchens, premium porcelain countertops, stainless steel appliances, LG washers and dryers in each unit, luxury SPC engineered flooring, floating bathroom cabinetry, walk-in showers, high ceilings, and expansive open-concept floor plans.The property is fully tech-enabled, with Cat-6 internet and HDMI pre-wired in every room, making it ideal for short-term guests, executives, and remote professionals. Additional highlights include a controlled gated driveway, HD multi-camera security system, private rear yard, multiple balconies, and 10 parking spaces, consisting of two 2-car covered garages (four garage spaces) and six exterior spaces. The asset is currently operated as a short-term rental business, with the option to rent each bedroom individually. Every bedroom is designed for independent occupancy and features a private bathroom and digital lock, allowing for efficient management, flexible pricing, and optimized income potential. For buyers seeking a traditional strategy, the property may also be repositioned for long-term leasing. Market rents are projected at approximately $6,500 per unit, depending on final configuration and leasing strategy, with potential upside if units are reconfigured to restore living rooms to more conventional layouts. Buyers should note that returning the units to traditional five-bedroom configurations may require additional capital, making the current layout best suited for operators focused on short-term or flexible rental models.Delivered vacant at close of escrow, this asset offers immediate flexibility and income generation for a buyer to continue the high-performing short-term rental model or reposition as desired. Properties of this quality, scale, and income profile particularly those not subject to rent control rarely come to market.Ideally located just minutes from Culver City, Ivy Station, The Platform, and major entertainment and technology hubs, the property benefits from consistent demand driven by entertainment, tech, and creative professionals. Showings by accepted offer only. Drive-by only. Do not disturb occupants.
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Listed by Jennie Martin with Compass (310) 230-5478
Property Type
Residential Income
Status
Active
MLS Number
26636697
Year Built
2022
Lot Size
6,251 sq ft