8,559 Sqft Lot
8,559 Sqft Lot
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
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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