1117 S Spaulding Ave

Investment Highlights

Property Overview

1117 S Spaulding Ave offers a compelling opportunity to acquire a 12-unit apartment building situated in the vibrant Mid-Wilshire neighborhood of Los Angeles. This property is strategically located just minutes from key attractions and employment hubs including Fairfax, Miracle Mile, Beverly Grove, Pico-Robertson, and Museum Row. The asset features 9,132 square feet of improvements on an 8,559 square foot LAR3-zoned lot, presenting a strong unit mix of one 3-bedroom unit and eleven 1-bedroom units. The location benefits from exceptional connectivity and proximity to major demand drivers. Tenants enjoy easy access to The Grove, Farmers Market, LACMA, the Academy Museum, Beverly Center, Cedars-Sinai, and the Wilshire/Fairfax Metro D Line station. The ongoing Metro D Line extension further enhances connectivity, linking Miracle Mile to Koreatown and Downtown LA, while the recent opening of LACMA's David Geffen Galleries adds to the area's cultural appeal and tenant demand. Offered at $2,300,000, the property is priced attractively at $191,667 per unit and approximately $252 per square foot, which is below nearby sales comparable averages. With its central Mid-Wilshire location, significant income upside potential, and a favorable basis in a high-barrier-to-entry rental market, 1117 S Spaulding Ave represents a clear value-add investment opportunity in one of Los Angeles' most sought-after infill submarkets.