Skip to main content

Multifamily

636-638 North Spaulding Avenue

636 N Spaulding Ave, Los Angeles, CA 90036

Listing Price: $3,100,000

Cap Rate
3.14%
Number of Units
8
Occupancy
100.0%
Price/Unit
$387,500
Price/Gross SF
$592.28
Gross SF
5,234

Investment Overview

Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 636-638 North Spaulding Avenue in Los Angeles, California. The subject property is situated in a prime Melrose / Fairfax location, south of Melrose Avenue and east of North Fairfax Avenue. 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 & Vinny’s 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. Built in 1925, this property contains a streamlined unit mix of eight (8) one bedroom / one bathroom units. This well-landscaped property features large bedrooms with walk-in closets, window A/C, and forced air heating. The property features a shared upstairs balcony and a shared but well-manicured driveway with the property next door. The renovated units feature stainless steel appliances, hardwood flooring throughout, and freshly painted walls, cabinetry, and crown molding. This unique building layout also includes on-site laundry facilities. With a walk score of 92, tenants will enjoy the incredible access to retail amenities on the famous Melrose and Fairfax Avenues. Some of the closest food stops include Agency Coffee, Bachi Yaki, Tutti Bene Pizza, Vurger Guyz, and Starbucks. Some of the closest retail stops include Headline Records, BANNED LA, Urban Outfitters, Matrix Theatre, Goorin Bros. Hat Shops, Atomic City, Timeless, The cool, Foot Locker, Wildstyle, and Shoe Palace. Families will enjoy being less than a quarter mile away from Fairfax High School, and being nearby many other high quality schools in the district. Situated in a prime Melrose / Fairfax location, this offering presents a rare opportunity to acquire a character, Spanish style building that hasn’t been on the market in over forty (40) years.

Investment Highlights

  • Prime Melrose/Fairfax Location
  • First Time on the Market in Over 40 Years
  • Fully Occupied
  • Less than a Mile Away from CBS' Television City Currently Undergoing a $1.25 Billion Redevelopment (TVC 2050)
  • Unique Building Layout with Shared Balcony Space
  • Possibility to Add One (1) or Two (2) ADU(s)
  • Renovated Units Feature Stainless Steel Appliances, Hardwood Flooring, & Freshly Painted Walls, Cabinetry, & Crown Molding
  • No Soft-Story Retrofit Required

Exclusively Listed By

Financing By

Multifamily

636-638 North Spaulding Avenue

Listing Price: $3,100,000

Cap Rate
3.14%
Number of Units
8
Occupancy
100.0%
Price/Unit
$387,500
Price/Gross SF
$592.28
Gross SF
5,234

Investment Highlights

  • Prime Melrose/Fairfax Location
  • First Time on the Market in Over 40 Years
  • Fully Occupied
  • Less than a Mile Away from CBS' Television City Currently Undergoing a $1.25 Billion Redevelopment (TVC 2050)
  • Unique Building Layout with Shared Balcony Space
  • Possibility to Add One (1) or Two (2) ADU(s)
  • Renovated Units Feature Stainless Steel Appliances, Hardwood Flooring, & Freshly Painted Walls, Cabinetry, & Crown Molding
  • No Soft-Story Retrofit Required

Investment Overview

Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 636-638 North Spaulding Avenue in Los Angeles, California. The subject property is situated in a prime Melrose / Fairfax location, south of Melrose Avenue and east of North Fairfax Avenue. 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 & Vinny’s 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. Built in 1925, this property contains a streamlined unit mix of eight (8) one bedroom / one bathroom units. This well-landscaped property features large bedrooms with walk-in closets, window A/C, and forced air heating. The property features a shared upstairs balcony and a shared but well-manicured driveway with the property next door. The renovated units feature stainless steel appliances, hardwood flooring throughout, and freshly painted walls, cabinetry, and crown molding. This unique building layout also includes on-site laundry facilities. With a walk score of 92, tenants will enjoy the incredible access to retail amenities on the famous Melrose and Fairfax Avenues. Some of the closest food stops include Agency Coffee, Bachi Yaki, Tutti Bene Pizza, Vurger Guyz, and Starbucks. Some of the closest retail stops include Headline Records, BANNED LA, Urban Outfitters, Matrix Theatre, Goorin Bros. Hat Shops, Atomic City, Timeless, The cool, Foot Locker, Wildstyle, and Shoe Palace. Families will enjoy being less than a quarter mile away from Fairfax High School, and being nearby many other high quality schools in the district. Situated in a prime Melrose / Fairfax location, this offering presents a rare opportunity to acquire a character, Spanish style building that hasn’t been on the market in over forty (40) years.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower