Property listed by Marcus & Millichap, Oscar Diaz 310-909-5500
$1,995,000
We are pleased to present 904 N Spaulding Avenue, an eight-unit multifamily property located just south of Santa Monica Boulevard in the highly sought-after West Hollywood market. Built in 1957, the property offers approximately 5,132 rentable square feet on a 6,421-square-foot lot and features an attractive unit mix of (1)… Read More studio, (6) one-bedroom/one-bathroom units, and (1) two-bedroom/one-and-a-half-bathroom unit. The property is offered at a 5.22% cap rate with over 37% rental upside, providing attractive day-one cash flow with the opportunity to achieve an 8.03% stabilized cap rate based on projected market rents. The property also features six on-site parking spaces located at the rear, which may provide potential for future ADU development and the opportunity to add additional units (Buyer to Verify). Seller financing is available with 50% down, providing buyers with additional flexibility when structuring the acquisition. Seller financing is optional and is not a required condition of the sale. Located in the heart of West Hollywood, the property offers convenient access to major employment centers, dining, shopping, nightlife, and entertainment throughout West Hollywood, Beverly Hills, Hollywood, and the greater Los Angeles area. With strong in-place cash flow, significant rental upside, flexible seller financing, and potential ADU opportunities, 904 N Spaulding Avenue presents a compelling value-add investment opportunity. Read Less
Listing Snapshot
Days Online
35
Last Updated
Beds
8
3/4 Baths
8
Square Ft.
5,132
Lot Size
0.15 Acres
Year Built
1957
MLS Number
26905443
Additional Details
Building
Built in 1957, Living area: 5132.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $157,764, Net Operating Income: $104,070
Lot
0.1475 acres, Dimensions: 50x130
Taxes
Parcel Number: 5530023009, Zoning: WDR3C*
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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