1133 S Spaulding Ave - Apartments FOR SALE


Los Angeles, CA 90019- Mid-City
$2,700,000 USD
424-239-5903
1133 S Spaulding Ave, Los Angeles, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/7
null | 4.81% Cap Rate

1133 S Spaulding Ave
Los Angeles, CA 90019
Mid-City


HIGHLIGHTS

  • Prime Mid-Wilshire Location - Minutes to Beverly Center & Fairfax District
  • Immediate Upside Potential Through Unit Renovations
  • Exceptional Value-Add Opportunity with 5 Units Delivered Vacant
  • Oversized Units with Private Patios and Balconies

OVERVIEW

1133 S. Spaulding Avenue is a seven-unit apartment building in the heart of Mid-Wilshire presenting an exceptional value-add opportunity with 71% current vacancy. The unit mix consists of three 1-bed/1-bath and four 2-bed/1.75-bath units. The property features oversized units averaging 977 square feet with private patios or balconies – substantially larger than typical Mid-Wilshire offerings. Built mid-century with stucco construction, the property benefits from completed capital expenditures including a roof that was replaced approximately 15 years ago and is currently in excellent condition, full soft-story seismic retrofit, earthquake shutoff valves installed in 2020, and comprehensive water copper re-piping in 2010. The two-story configuration provides superior parking with seven spaces (1:1 ratio) including front tuck-under and tandem spaces plus four rear tuck-under spaces via alley access. Units feature security screen doors, wall A/C units, and wood floors.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$393 USD /SF

# OF UNITS

7

PRICE/UNIT

$385,714

CAP RATE

4.81%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

LAR3

APN/PARCEL ID

5086-026-018

ASK ABOUT THIS PROPERTY

Steffan BraunlichBerkadiaMore Info
424-239-5903

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Steffan BraunlichBerkadiaMore Info
424-239-5903

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.