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610 N Spaulding Ave 5 Unit Apartment Building $1,635,000 ($327,000/Unit) 5.85% Cap Rate Los Angeles, CA 90036
Investment Highlights
- Proven stability: Same ownership since 2007 with consistent management and upkeep
- Value-add upside: ~25% potential through unit renovations and rent growth
- Strong demand drivers: High-income area (~$126K avg) supports premium rents & retention
- Prime, walkable location: Fairfax District near The Grove & Melrose with 95 Walk Score
Executive Summary
610 N Spaulding Ave offers a rare opportunity to invest in a well-maintained property with proven stability, having been under the same dedicated ownership since 2007. This long-term stewardship reflects consistent management and care, ensuring enduring value. Ideally situated in the heart of the Fairfax District of Los Angeles' most vibrant cultural hubs the property enjoys proximity to iconic destinations like The Grove, the Original Farmers Market, and Melrose Avenue. Beyond its exceptional location, the property presents investors with value-add potential. The surrounding area is defined by desirable demographics, with an average household income nearing $126K within a one-mile radius, signaling strong purchasing power and sustained demand for quality housing. Altogether, 610 N Spaulding Ave represents a compelling investment opportunity, combining long-term stability, walkability, upside potential, and a prime position in one of L.A.'s most dynamic rental markets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,635,000 | Apartment Style | Low-Rise |
| Price Per Unit | $327,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.85% | Building Size | 3,738 SF |
| Gross Rent Multiplier | 11.65 | Average Occupancy | 95% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1939 |
| Property Subtype | Apartment | Parking Ratio | 2.14/1,000 SF |
| Zoning | LARD1.5 | ||
| Price | $1,635,000 |
| Price Per Unit | $327,000 |
| Sale Type | Investment |
| Cap Rate | 5.85% |
| Gross Rent Multiplier | 11.65 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,738 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 2.14/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Storage Space
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 683 - 744 |
| 2+1 | 1 | - | 931 |
1 1
Very walkable
80/100
Fairly drivable
50/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5527-023-016 | Total Assessment | $766,422 |
| Land Assessment | $351,276 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $415,146 | Tax Year | 2025 |
Property Taxes
Parcel Number
5527-023-016
Land Assessment
$351,276
Improvements Assessment
$415,146
Total Assessment
$766,422
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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610 N Spaulding Ave
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