$2,315,000
SOLD JUL 12, 2024

926 N Spaulding Ave West Hollywood, CA 90046

8 Beds
8 Baths
5,146 Sq Ft
6,401 Sq Ft Lot

Recently Sold

$450 Per Sq Ft

7% Below List Price

12 Days on Market

About This Home

As of July 2024

We are pleased to present 926 N Spaulding Ave, a charming and well-kept American Colonial value-add investment opportunity delivered with 3 of 8 units vacant, located in the highly desirable city of West Hollywood; south of Santa Monica Blvd, west of N La Brea Ave, and east of Fairfax Ave. The property boasts a WalkScore of 95 (Walker's Paradise) and is located steps from exceptional employment, lifestyle, and leisure options that make West Hollywood one of the premier rental markets, attracting an affluent, upwardly mobile tenant base. This 1954-built 2-story, 8-unit building has a desirable unit mix of 1 single, 6 (1+1), and 1 (2+1) units that range from approximately 450 to 950 gross square feet. The 5,146 square foot structure is situated on a 6,401 square foot R3B zoned lot. The house electric panel has been recently upgraded, as has a majority of the building's plumbing. Units feature hardwood and bamboo wood floors, large windows providing ample natural light (and some nice views for 2nd floor units), dining areas, air conditioning, gas heating, and ample closet space for convenience. Select units feature upgraded kitchens with new fridges, stoves, and dishwashers, as well as newly renovated bathrooms. The property features an on-site laundry room, and 6 covered carport parking spaces ensure resident vehicles are well-accommodated. The building is separately metered for gas and electric. 926 N Spaulding's excellent West Hollywood location offers residents unmatched access to career centers, educational institutions, restaurants, nightlife destinations, shopping (Whole Foods 0.4 miles, Trader Joe's 0.7 miles), and recreation (Poinsettia Park 0.5 miles, Plummer Park 0.6 miles), all within one of the most walkable and high-demand locations in Southern California. The property is also conveniently located just 0.2 miles south of CA-2, 1.4 miles from Sunset Strip, 0.3 miles from Melrose shopping district, 1.3 miles from the La Cienega design district, 2.2 miles from Beverly Hills, and 2.6 miles from the CA 101 freeway, ensuring easy access to the city's extensive transit network and other LA attractions. Strategically positioned in the heart of West Hollywood, this well-maintained asset is in a dynamic and centrally situated submarket, offering an astute investor the potential for significant appreciation and strong returns, supported by historically high tenant demand who enjoy a quality living experience in one of Los Angeles's most dynamic neighborhoods.

Last Agent to Sell the Property

Matthew Kanner

Keller Williams Realty Los Feliz License #01349203 Listed on: 06/19/2024

Keller Williams Realty Los Feliz

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1954

Lot Details

  • 6,401 Sq Ft Lot
  • Lot Dimensions are 50x130

Interior Spaces

  • 5,146 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan

Kitchen

  • Oven or Range
  • Dishwasher

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Parking

  • 1 Open Parking Space
  • 6 Parking Spaces
  • 5 Covered Spaces
  • Covered Parking
  • Shared Driveway
  • Assigned Parking

Utilities

  • Window Unit Cooling System
  • Heating System Mounted To A Wall or Window

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 5530-023-006

Property Details

Home Type

Multi-Family

Year Built

Built in 1954

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 5146
  • Lot Acreage: 0.1470
  • Lot Dimensions: 50x130
  • Stories: 2
  • Year Built: 1954
  • Number Of Photos: 38
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Total Bathrooms: 8.00
  • Equipment: Range/Oven, Ceiling Fan, Dishwasher, Refrigerator
  • Price Per S Q F T: 485.81

Exterior Features

  • Other Structures: None

Garage/Parking

  • Other Spaces: 1
  • Covered Parking: 5
  • Parking Garage: Covered Parking, Assigned, Shared Driveway
  • Total Parking: 6

Utilities

  • Cooling: Ceiling Fan, Air Conditioning, Window Unit(s)
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 60.27
  • Assessed Improvement Value: 296161
  • Assessed Land Percent: 39.73
  • Assessed Land Value: 195224
  • Total Assessed Value: 491385
  • Assessor Parcel Number: 5530-023-006
  • Lot Size Area: 6401

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 12.90
  • Number Of Units: 8
  • Total Annual Expense: 59734
  • Type Of Units: 3
  • Vacancy Rate: 3

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/12/2024 07/12/24 Sold $2,315,000 -7.4% $450 / Sq Ft
07/01/2024 07/01/24 Pending -- -- --
06/19/2024 06/19/24 For Sale $2,500,000 +8.0% $486 / Sq Ft
06/19/2024 06/19/24 Off Market $2,315,000 -- --
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-405773

The MLS