1133 S Spaulding Ave 7 Unit Apartment Building $2,700,000 ($385,714/Unit) 4.81% Cap Rate Los Angeles, CA 90019

1133 S. Spaulding Avenue is a seven-unit apartment building in the heart of Mid-Wilshire presenting an exceptional value-add opportunity with 71% current vacancy. The unit mix consists of three 1-bed/1-bath and four 2-bed/1.75-bath units. The property features oversized units averaging 977 square feet with private patios or balconies – substantially larger than typical Mid-Wilshire offerings. Built mid-century with stucco construction, the property benefits from completed capital expenditures including a roof that was replaced approximately 15 years ago and is currently in excellent condition, full soft-story seismic retrofit, earthquake shutoff valves installed in 2020, and comprehensive water copper re-piping in 2010. The two-story configuration provides superior parking with seven spaces (1:1 ratio) including front tuck-under and tandem spaces plus four rear tuck-under spaces via alley access. Units feature security screen doors, wall A/C units, and wood floors.