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1116 N Spaulding Ave

West Hollywood, CA 90046
  • $3,400,000
  • STATUS: Active
  • ON SITE: 48 Days
  • MLS #: 22-143025
Price Reduced
UPDATED: 49 min ago
$3,400,000
  • 12
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,600
    SQFT
  • $447
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Description

Located in a prime West Hollywood pocket, 1 Block North of Santa Monica Blvd, 1116 N. Spaulding is a ten-unit value-add multifamily property minutes from several neighborhood hubs including Fairfax Ave, La Brea and SM Blvd. This value-add property features (2) 2-Bdrm and 2-Bath units and (8) 1-Bdrm units. Please note, each ground-floor unit features a private patio. 1116 N. Spaulding presents a significant value-add opportunity, as current rents are approx. 53% below market rates compared to renovated units in the area. This corner lot property with alley access features a gated subterranean parking garage with 8 parking spaces, an additional parking area with 5 spaces, a community laundry room and a new roof installed in the last 5 years (per management). 1116 N. Spaulding is offered in conjunction with the sale of a Spanish-style fourplex near The Grove, 422 N. Spaulding (can be purchased separately).

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T09:42:26.83. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.markwiseproperties.com/homes/127367383
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1116 N Spaulding Ave West Hollywood, CA 90046

  • Price: $3,400,000
  • Status: Active
  • On Site: 48 Days
  • Updated: 49 min ago
  • MLS #: 22-143025
12
Beds
0
Baths
0
½ Baths
0.15
Acres
7,600
SQFT
$447
$/SQFT
1965
Built
Neighborhood:
West Hollywood Vicinity
County:
Los Angeles
Area:
West Hollywood Vicinity
Property Description
Located in a prime West Hollywood pocket, 1 Block North of Santa Monica Blvd, 1116 N. Spaulding is a ten-unit value-add multifamily property minutes from several neighborhood hubs including Fairfax Ave, La Brea and SM Blvd. This value-add property features (2) 2-Bdrm and 2-Bath units and (8) 1-Bdrm units. Please note, each ground-floor unit features a private patio. 1116 N. Spaulding presents a significant value-add opportunity, as current rents are approx. 53% below market rates compared to renovated units in the area. This corner lot property with alley access features a gated subterranean parking garage with 8 parking spaces, an additional parking area with 5 spaces, a community laundry room and a new roof installed in the last 5 years (per management). 1116 N. Spaulding is offered in conjunction with the sale of a Spanish-style fourplex near The Grove, 422 N. Spaulding (can be purchased separately).
Exterior Features

Covered Parking 5 Cross Streets N. Spaulding Avenue & Norton Avenue Garage Structures Total 1 Lot Location Alley Access Lot Size Area 6419 Other Structures None Parking Garage SubterraneanGatedCovered Parking Total Parking 13 View Description None View YN No

Interior Features

Baths Total 12.00 Common Walls Attached Cooling Wall Unit(S) Equipment Built-InsCableRange/OvenFreezerRefrigerator Heating Wall Laundry CommunityRoom

Property Features

Assessed Total Value 866820 Gross Income 208751 Gross Operating Income 202489 Like Units1 1 Like Units2 1 Like Units3 2 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 125527.00 Number Of Buildings 1 Number Of Units 10 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 76962 Type Of Units Apartments Year Built Source Vendor Enhanced Zoning Wdr2*

Listing provided courtesy of Kenny Stevens DRE#01090251 of Compass.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-23T09:42:26.83. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270