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$1,995,000
Est. payment /mo
8 Beds
8 Baths
5,132 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,132 sqft
Price per Sqft $388
MLS Listing ID 26905443
Bedrooms 8
HOA Y/N No
Year Built 1957
Lot Size 6,425 Sqft
Property Description
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) 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.
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR3C*
Interior
Fireplace No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5530023009
Special Listing Condition Standard
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Listed by Oscar Diaz Marcus & Millichap #02022902
Nearby Locations
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