Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

79

Building size

35,024 sqft

Lot size

28,995 sqft

Year built

1947

Stories

2

Heating

Wall Furnace

Cooling

Wall/Window Unit(s)

Status

Active

Days on market

0

MLS #

249159317

About this property

We are pleased to present an exceptionally rare, generational investment opportunity in the heart of Hollywood: a 79-unit apartment community comprised of four buildings framing a beautifully landscaped central courtyard. Assets of this scale are almost never available in this highly sought-after submarket, making this one of the largest apartment offerings to come to market in Hollywood in recent years. Built in 1947, the property features timeless architectural character that continues to resonate with today's renter profile offering charm, scale, and a sense of permanence that newer construction often cannot replicate. The courtyard-style design creates a peaceful, residential oasis, providing a serene living environment in the midst of one of Los Angeles' most vibrant and globally recognized neighborhoods. The property is ideally located directly across the street from iconic destinations such as The Magic Castle and Yamashiro Hollywood, and is within walking distance to an unparalleled collection of nightlife, high-end dining, boutique retail, and entertainment venues. From an investment standpoint, the offering is further enhanced by 21 current vacancies, providing an incoming investor with a rare, immediate opportunity to capture the highest market rents in a supply-constrained rental environment. In a submarket where stabilized assets typically trade with minimal vacancy, this level of availability allows an incoming investor to implement a targeted rent-up strategy from day one, without the displacement risk, regulatory friction, or prolonged renovation timelines often associated with repositioning assets of this scale. These vacant units provide a clear path to capturing today's highest market rents, aligning the property with current demand from Hollywood's affluent, professionally driven renter base. As units are renovated and leased at prevailing rates, a buyer can materially increase cash flow in the near term while simultaneously establishing a higher long-term income baseline. Hollywood benefits from one of the deepest and most diversified renter pools in Los Angeles, fueled by nearby studios, production companies, media and streaming firms, technology, hospitality, and creative employers supporting sustained rental demand and long-term asset performance. 1769-1775 N Sycamore Avenue sits at the epicenter of one of the most powerful employment and lifestyle ecosystems in Los Angeles, Within minutes of the property are major employment anchors including Netflix's Hollywood production presence, Sunset Gower Studios, and numerous production houses, agencies, post-production firms, and creative offices spread throughout Hollywood, Sunset Strip, and West Hollywood. This concentration of employers fuels consistent rental demand from executives, creatives, producers, engineers, and professional staff seeking proximity to work without sacrificing quality of life. 1769-1775 N Sycamore Avenue represents a cornerstone acquisition: meaningful scale, irreplaceable location, strong in place upside, and enduring relevance in one of Los Angeles' most dynamic rental markets.

Location

1769 N Sycamore Avenue

Los Angeles, Los Angeles, CA, 90028