1117 S Spaulding, Los Angeles, CA 90019
1117 S Spaulding, Los Angeles, CA 90019
1117 S Spaulding, Los Angeles, CA 90019
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,300,000
Est. payment /mo
8,559 Sqft Lot
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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26130250

HOA Y/N No

Year Built 1958

Lot Size 8,559 Sqft

Property Sub-Type Apartment

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. Metro's D Line extension now connects Miracle Mile to Koreatown and Downtown LA, while LACMA's 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

Area C19 - Beverly Center-Miracle Mile

Interior

Fireplace No

Laundry None

Exterior

Carport Spaces 6

Pool None

Community Features Curbs, Street Lights, Sidewalks, Urban

Total Parking Spaces 6

Private Pool No

Building

Lot Description 31-35 Units/Acre, Near Public Transit, Paved, Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5086026015

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. 310-259-7556, DRE #02035763

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