23
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$2,300,000
Est. payment /mo
6 Beds
4 Baths
8,559 Sqft Lot
Price Dropped by $100K
1117 S Spaulding Los Angeles, CA 90019
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26130250
Bedrooms 6
Lot Size 8,559 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
1117 S Spaulding Ave presents the opportunity to acquire a 12-unit apartment building in the heart of Mid-Wilshire, just minutes from Fairfax, Miracle Mile, Beverly Grove, Pico-Robertson, and Museum Row. The property sits on an 8,559 SF LAR3-zoned lot and features 9,132 SF of improvements with a strong unit mix of (1) 3+1 unit and (11) 1+1 units. The location is one of the strongest parts of the story. Tenants are minutes from The Grove, Farmers Market, LACMA, the Academy Museum, Beverly Center, Cedars-Sinai, and the Wilshire/Fairfax Metro D Line station. Metros D Line extension now connects Miracle Mile to Koreatown and Downtown LA, while LACMAs new David Geffen Galleries recently opened nearby, adding another major demand driver to the area. At $2,300,000, the asset is priced at $192K per unit and approximately $252 per SF, below the nearby sales-comp averages shown in the OM. With a central Mid-Wilshire location, meaningful income upside, and an attractive basis in a high-barrier-to-entry rental market, 1117 S Spaulding Ave offers investors a clear value-add opportunity in one of Los Angeles most desirable infill submarkets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction From the I-10 Freeway, exit La Brea Ave and head north. Turn left onto Pico Blvd, then turn right onto Spaulding Ave. Continue n
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5086026015
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Cameron Samimi, DRE#02035763 Lyon Stahl Investment Real Estate, Inc.
NEARBY SCHOOL & BUSINESS
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