6
See all 6 photos
$1,595,000
Est. payment /mo
5 BD
3 BA
2,441 SqFt
Active
12001 Sylvester ST Los Angeles, CA 90066
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UPDATED:
12/05/2024 05:10 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,441 sqft
Price per Sqft $653
MLS Listing ID 24465037
Bedrooms 5
HOA Y/N No
Year Built 1954
Lot Size 5,279 Sqft
Property Description
12001 Sylvester presents a prime real estate opportunity in the heart of Mar Vista, located at the corner of Sylvester Street and Inglewood Blvd. This well-positioned property sits at the entrance of a serene cul-de-sac and comprises a triplex featuring two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The 1-bedroom unit offers immediate potential for occupancy as it may be delivered vacant. Each unit is complemented by private outdoor spaces, including patios for the ground-floor units and a balcony for the second-story unit. The property also includes separate one-car garages, with additional parking available in front of each garage. Value-Add Opportunities: Rental Upside: With one unit potentially vacant, rent can be adjusted to market rate. The remaining two units are currently rented at approximately 50% below market, and the ability to add an ADU unit, presents a strong income growth opportunity. Owner-Occupancy Potential: Ideal for buyers looking to occupy one unit while benefiting from rental income from the others. Development Possibilities: Zoned LARD3, the property offers multiple paths for redevelopment. For those looking to expand further, the two adjacent triplexes (12007 and 12013 Sylvester) are also available for sale for $266/SF, enabling a combined 16,500-square-foot lot development. By right, this assemblage could yield 20 units, or up to 28 units with bonus density (buyer to verify with the City of Los Angeles).Conveniently located near Culver City, this property offers easy access to dining and entertainment on Washington Blvd and the vibrant Mar Vista Farmers Market on Grandview. Don't miss the chance to invest in one of West LA's most desirable neighborhoods.
Location
State CA
County Los Angeles
Area C13 - Palms - Mar Vista
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Door-Multi, Garage
Garage Spaces 3.0
Garage Description 3.0
Total Parking Spaces 3
Building
Story 1
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4232004060
Special Listing Condition Standard
Listed by D. Timothy Byrne • Compass