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2938 S Sycamore Ave
Los Angeles, CA 90016
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Non-rent-controlled property.
- Produces immediate day-one cash flow.
- Located minutes from Culver City's tech and media corridor.
- Five out of six units are already leased at market rents.
- Generates $341,640 in pro forma annual gross income.
- All units are separately metered for electric and water.
Executive Summary
The 5+ Unit Specialists are pleased to present 2938 S Sycamore Ave, a striking 2026 new construction, non-rent-controlled 6-unit in prime West Adams. Delivering a strong 6.04% cap rate, Sycamore offers the rare combination of luxury construction, immediate cash flow, and long-term upside. Five of the six residences are already leased at impressive market rents, providing buyers with income from day one.
Spanning 9,489 square feet across two modern buildings, the property features an excellent unit mix of three spacious 3-bedroom residences and three 4-bedroom residences with private rooftop decks. Each thoughtfully designed unit offers generous floor plans, high-end finishes, balconies, central HVAC, in-unit washers and dryers, and sleek
contemporary kitchens and bathrooms. Ten on-site parking spaces further enhance tenant appeal. All utilities are separately metered, helping keep operating expenses exceptionally low and making Sycamore a true turnkey, low-maintenance investment. Offered at $4,495,000, the property trades at approximately $474 per square foot and $749,000 per unit, an attractive basis for brand-new construction in one of Los Angeles’ most in-demand rental markets.
Ideally positioned near Culver City, West Adams, and the Expo Line, residents enjoy convenient access to Santa Monica, DTLA, USC, and the greater Westside. The property is surrounded by major redevelopment, new construction, and neighborhood favorites including Alta Adams, Mizlala, Johnny’s Pastrami, and Highly Likely. With Sony, Amazon Studios, Apple, HBO, and Culver City’s thriving tech and media corridor nearby, the area continues to attract young professionals and creative tenants seeking modern housing in a central location, supporting strong rental demand and long-term growth.
Spanning 9,489 square feet across two modern buildings, the property features an excellent unit mix of three spacious 3-bedroom residences and three 4-bedroom residences with private rooftop decks. Each thoughtfully designed unit offers generous floor plans, high-end finishes, balconies, central HVAC, in-unit washers and dryers, and sleek
contemporary kitchens and bathrooms. Ten on-site parking spaces further enhance tenant appeal. All utilities are separately metered, helping keep operating expenses exceptionally low and making Sycamore a true turnkey, low-maintenance investment. Offered at $4,495,000, the property trades at approximately $474 per square foot and $749,000 per unit, an attractive basis for brand-new construction in one of Los Angeles’ most in-demand rental markets.
Ideally positioned near Culver City, West Adams, and the Expo Line, residents enjoy convenient access to Santa Monica, DTLA, USC, and the greater Westside. The property is surrounded by major redevelopment, new construction, and neighborhood favorites including Alta Adams, Mizlala, Johnny’s Pastrami, and Highly Likely. With Sony, Amazon Studios, Apple, HBO, and Culver City’s thriving tech and media corridor nearby, the area continues to attract young professionals and creative tenants seeking modern housing in a central location, supporting strong rental demand and long-term growth.
Property Facts
| Price Per Unit | $1,034,127 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.04% | Building Size | 9,489 SF |
| Gross Rent Multiplier | 13.16 | Average Occupancy | 83% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling | ||
| Price Per Unit | $1,034,127 CAD |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Gross Rent Multiplier | 13.16 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 9,489 SF |
| Average Occupancy | 83% |
| No. Stories | 3 |
| Year Built | 2026 |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Washer/Dryer
- Refrigerator
- Island Kitchen
Site Amenities
- Laundry Facilities
- Tenant Controlled HVAC
- Roof Terrace
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 3 | $6,826 CAD | 1,572 - 1,726 |
| 3+3 | 2 | $5,929 CAD | 1,248 - 1,444 |
| 4+4.5 | 1 | $7,033 CAD | 1,927 |
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