1117 S Spaulding,Los Angeles, CA 90019
Los Angeles, CA 90019
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.
Details
| MLS # | SB26130250 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 72 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Cameron Samimi |
Features
| SQ Feet | 9,132 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 1 |
| Acreage | 0.20 |
Exterior
| Lot Features | Thirty One To Thirty Five Units Acre, Near Public Transit, Paved, Street Level |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Street Lights, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90019 |
| Area | C19 Beverly Center Miracle Mile |
| Listing VS Median (in 90019) | |
Price: $2,300,000 low | high Med: $1,099,000 sqft: 9,132 low | high Med: 3,293 $ / sqft: $252 low | high Med: $334 On site: 72 low | high Med: 29 | |
Market Activity 90019
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90019 |
| Area | C19 Beverly Center Miracle Mile |
| Listing VS Median (in 90019) | |
Price: $2,300,000 low | high Med: $1,099,000 sqft: 9,132 low | high Med: 3,293 $ / sqft: $252 low | high Med: $334 On site: 72 low | high Med: 29 | |
