1117 S Spaulding, Los Angeles, CA 90019
List Price: $2.3M
Listing Status: Active
Original List Price: $2.4M
0Days on Market: 43
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1958
Lot Size: 8,559 sq ft
Private Pool: Yes
MLS Number: SB26130250
About This Property
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.
Listing provided by: Cameron Samimi DRE #02035763 310-425-9838 cameron@lyonstahl.com, Lyon Stahl Investment Real Estate, Inc.
Source: CRMLS, MLS #: SB26130250
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.