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1117 S Spaulding Ave 12 Unit Apartment Building $3,208,730 CAD ($267,394 CAD/Unit) 4.73% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Situated in Mid-Wilshire, close proximity to Fairfax, Miracle Mile, Beverly Grove, The Grove, Farmers Market, LACMA, and the Academy Museum
- Surrounded by cultural attractions and employment hubs, adding demand growth drivers
- Market Rents estimated at ±$32,000 per month
- Nearby transit: Wilshire/Fairfax Metro D Line station connecting the area to Downtown LA and Koreatown
- Significant income increase possible via organic lease adjustments
Executive Summary
1117 S Spaulding Ave presents the opportunity to acquire a 12-unit apartment building in the heart of Mid-Wilshire, just minutes from Fairfax, Miracle Mile, Beverly Grove, Pico-Robertson, and Museum Row. The property sits on an 8,559 SF LAR3-zoned lot and features 9,132 SF of improvements with a strong unit mix of (1)3+1 and (11)1+1 units.
The location is one of the strongest parts of the story. Tenants are minutes from The Grove, Farmers Market, LACMA, the Academy Museum, Beverly Center, Cedars-Sinai, and the Wilshire/Fairfax Metro D Line station. Metro’s D Line extension now connects Miracle Mile to Koreatown and Downtown LA, while LACMA’s new David Geffen Galleries recently opened nearby, adding another major demand driver to the area.
At $2,300,000, the asset is priced at $191,667 per unit and approximately $252/SF, below the nearby sales comp averages shown in the OM. With a central Mid-Wilshire location, meaningful income upside, and an attractive basis in a high-barrier-to-entry rental market, 1117 S Spaulding Ave offers investors a clear value-add opportunity in one of Los Angeles’ most desirable infill submarkets.
The location is one of the strongest parts of the story. Tenants are minutes from The Grove, Farmers Market, LACMA, the Academy Museum, Beverly Center, Cedars-Sinai, and the Wilshire/Fairfax Metro D Line station. Metro’s D Line extension now connects Miracle Mile to Koreatown and Downtown LA, while LACMA’s new David Geffen Galleries recently opened nearby, adding another major demand driver to the area.
At $2,300,000, the asset is priced at $191,667 per unit and approximately $252/SF, below the nearby sales comp averages shown in the OM. With a central Mid-Wilshire location, meaningful income upside, and an attractive basis in a high-barrier-to-entry rental market, 1117 S Spaulding Ave offers investors a clear value-add opportunity in one of Los Angeles’ most desirable infill submarkets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| 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 (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,208,730 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $267,394 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 4.73% | Building Size | 9,132 SF |
| Gross Rent Multiplier | 10.79 | Average Occupancy | 97% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Zoning | R3, Los Angeles - Restricted Density Multiple Dwelling | ||
| Price | $3,208,730 CAD |
| Price Per Unit | $267,394 CAD |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| Gross Rent Multiplier | 10.79 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 9,132 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | R3, Los Angeles - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | $1,872 CAD | - |
| 3+2 | 1 | $4,040 CAD | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5086-026-015 | Total Assessment | $2,102,329 CAD |
| Land Assessment | $900,993 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,201,336 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
5086-026-015
Land Assessment
$900,993 CAD
Improvements Assessment
$1,201,336 CAD
Total Assessment
$2,102,329 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1117 S Spaulding Ave
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