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606 N Spaulding Ave

Los Angeles, CA 90036
  • $2,325,000
  • STATUS: Active Under Contract
  • ON SITE: 134 Days
  • ID#: 21-783712
Under Contract
UPDATED: 56 min ago
$2,325,000
  • 8
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,258
    SQFT
  • $442
    $/SQFT
Type:
Multi-Family
Built:
1927
County:

School Ratings & Info

Description

We are pleased to present a two (2) property portfolio consisting of two (2) fourplexes located at 330 & 606 North Spaulding Avenue in Los Angeles, California. The subject properties are located on the same street, two (2) blocks apart in a prime Fairfax location. With South Fairfax Avenue to the east, Melrose Avenue to the north and Beverly Boulevard to the south, this portfolio offers tenants with dominant access to some of the most sought-after destinations in the heart of Beverly Grove. Retail and restaurants draw a diverse crowd to the lively Fairfax District. Fairfax Avenue is one of the main north-south thoroughfares of Central Los Angeles; its five (5) mile length is home to city landmarks like the Los Angeles County Museum of Art, The La Brea Tar Pits and Museum, the original LA Farmers Market and The Grove, a posh shopping center. These landmarks are less than a ten (10) minute walk from the subject properties. The Grove outdoor mall features upscale shops, a fountain and a trolley car, while the historic Original Farmers Market offers casual eats. Along trendy Fairfax Avenue, long-standing Jewish businesses like Canters Deli share space with a number of cutting-edge streetwear designers. The walkable stretch of North Fairfax Avenue between Melrose Ave and Beverly Blvd, in particular, has emerged over the past few years as perhaps the most vibrant center of shopping and dining in the city. This stretch is a short five (5) minute walk from the subject properties and is home to some of Los Angeles most famous food and entertainment destinations. Some of these destinations include the Melrose Trading Post, Da Poetry Lounge, The Hundreds Clothing Store, RIPNDIP, Supreme, Dolls Kill, and Jon & Vinnys Fairfax. No need for a car in this area, residents enjoy having direct access to supermarkets, coffee shops, trendy restaurants and theaters, earning this area a walk score of 93. 606 North Spaulding Avenue has a streamlined unit mix of four (4) 2-bedroom/1.5-bathroom units with amazing amenities included. These spacious units feature high ceilings and gorgeous natural lights. Each unit comes with tandem parking spaces and extra storage space included. There are a total of five (5) garage storage spaces. For tenants with more than one (1) car, there are tons of street parking options available in the area. The property is located in a quiet and lush neighborhood. Constructed in 1927, this two (2) property portfolio offers an excellent opportunity for any investor to capitalize on great rental upside while obtaining 30-year fixed residential financing in one of the best submarkets in Los Angeles.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-27T09:42:32.623. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.trulinerealty.com/homes/121424911
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606 N Spaulding Ave Los Angeles, CA 90036

  • Price: $2,325,000
  • Status: Active Under Contract
  • On Site: 134 Days
  • Updated: 56 min ago
  • ID#: 21-783712
8
Beds
0
Baths
0
½ Baths
0.15
Acres
5,258
SQFT
$442
$/SQFT
1927
Built
Neighborhood:
Beverly Center-Miracle Mile
County:
Los Angeles
Area:
Beverly Center-Miracle Mile
Property Description
We are pleased to present a two (2) property portfolio consisting of two (2) fourplexes located at 330 & 606 North Spaulding Avenue in Los Angeles, California. The subject properties are located on the same street, two (2) blocks apart in a prime Fairfax location. With South Fairfax Avenue to the east, Melrose Avenue to the north and Beverly Boulevard to the south, this portfolio offers tenants with dominant access to some of the most sought-after destinations in the heart of Beverly Grove. Retail and restaurants draw a diverse crowd to the lively Fairfax District. Fairfax Avenue is one of the main north-south thoroughfares of Central Los Angeles; its five (5) mile length is home to city landmarks like the Los Angeles County Museum of Art, The La Brea Tar Pits and Museum, the original LA Farmers Market and The Grove, a posh shopping center. These landmarks are less than a ten (10) minute walk from the subject properties. The Grove outdoor mall features upscale shops, a fountain and a trolley car, while the historic Original Farmers Market offers casual eats. Along trendy Fairfax Avenue, long-standing Jewish businesses like Canters Deli share space with a number of cutting-edge streetwear designers. The walkable stretch of North Fairfax Avenue between Melrose Ave and Beverly Blvd, in particular, has emerged over the past few years as perhaps the most vibrant center of shopping and dining in the city. This stretch is a short five (5) minute walk from the subject properties and is home to some of Los Angeles most famous food and entertainment destinations. Some of these destinations include the Melrose Trading Post, Da Poetry Lounge, The Hundreds Clothing Store, RIPNDIP, Supreme, Dolls Kill, and Jon & Vinnys Fairfax. No need for a car in this area, residents enjoy having direct access to supermarkets, coffee shops, trendy restaurants and theaters, earning this area a walk score of 93. 606 North Spaulding Avenue has a streamlined unit mix of four (4) 2-bedroom/1.5-bathroom units with amazing amenities included. These spacious units feature high ceilings and gorgeous natural lights. Each unit comes with tandem parking spaces and extra storage space included. There are a total of five (5) garage storage spaces. For tenants with more than one (1) car, there are tons of street parking options available in the area. The property is located in a quiet and lush neighborhood. Constructed in 1927, this two (2) property portfolio offers an excellent opportunity for any investor to capitalize on great rental upside while obtaining 30-year fixed residential financing in one of the best submarkets in Los Angeles.
Exterior Features

Cross Streets Melrose Avenue & N Spaulding Avenue Direction Faces West Garage Structures Total 5 Levels Two Lot Description Single LotSidewalks Lot Location City Lot Size Area 6354 Other Structures None Parking Garage Garage Is DetachedGarageDriveway - PaversSide By SideBuilt-In Storage Pool Description None Pool YN No Roof Clay Spa None Spa YN No Tennis Court None Tennis YN No Total Parking 8

Interior Features

Bathroom Features Shower Over Tub Baths Total 4.00 Common Walls Attached Cooking Appliances Cooktop - GasRangeOven-Gas Cooling Air ConditioningWindow Unit(S) Equipment DishwasherRefrigeratorRange/OvenStackable W/D HookupWasherDryerCeiling Fan Fireplace Rooms Decorative Flooring Wood Heating Baseboard Interior Features Common WallsStorage Space Kitchen Features Counter TopTile Counters Laundry In Unit Laundry Equipment Own

Property Features

Assessed Total Value 630717 Gross Income 125092 Gross Operating Income 125092 Land Lease Type Fee Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Net Operating Income 83261.00 Number Of Buildings 1 Number Of Units 4 Property Condition Repair Cosmetic Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 38141 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Jason Tuvia DRE#01772495 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-27T09:42:32.623. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064