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904 N Spaulding Ave 8 Unit Apartment Building $1,995,000 ($249,375/Unit) 5.22% Cap Rate Los Angeles, CA 90046
Investment Highlights
- Seller financing is available with 50% down as an optional financing structure and is not required as a condition of the sale.
- Attractive day-one cash flow with over 37% rental upside and the potential to achieve an 8.03% cap rate at projected market rents.
- Features approximately ±5,132 square feet of rentable space with (1) Studio, (6) 1 Bedroom/1 Bath, and (1) 2 Bedroom/1.5 Bath units.
- Six parking spaces located at the rear of the property, with potential future ADU opportunities (Buyer to Verify).
Executive Summary
Marcus & Millichap is 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).
Optional Seller Financing — 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.
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).
Optional Seller Financing — 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.
Property Facts
| Price | $1,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $249,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.22% | Building Size | 5,132 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | ||
| Zoning | R3 - Restricted Density Multiple Dwelling | ||
| Price | $1,995,000 |
| Price Per Unit | $249,375 |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,132 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Zoning | R3 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Storage Space
- Public Transportation
- Individual Locking Bedrooms
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 6 | - | - |
| 2+1.5 | 1 | - | - |
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5530-023-009 | Improvements Assessment | $355,657 |
| Land Assessment | $258,648 | Total Assessment | $614,305 |
Property Taxes
Parcel Number
5530-023-009
Land Assessment
$258,648
Improvements Assessment
$355,657
Total Assessment
$614,305
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