636-638 N Spaulding Ave — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90036

Investment Figures

Cap rate
5.21%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 636-638 N Spaulding Ave in Los Angeles, California. The subject property is located in a prime Fairfax location, just south of Melrose Ave and east of Fairfax Ave. Situated in a prime Fairfax location adjacent to West Hollywood, the property benefits from long-term ownership and a desirable all one-bedroom unit mix with approximately 20% rental upside. Select units feature modern renovations including stainless steel appliances, hardwood floors, and updated kitchens, while the asset maintains charming Spanish-style architecture. Amenities include on-site laundry, parking, and a rare widened shared driveway for easy access. A significant roof replacement was completed in 2024, with occupancy exceeding 95% over the past five years. The property offers ADU potential (buyer to verify) and is within walking distance to Melrose Avenue, The Grove, and numerous dining and retail amenities. With strong in-place occupancy, approximately 20% rental upside, a prime Fairfax location, on-site parking with a rare widened driveway, and recent roof replacement, the property presents a compelling combination of immediate income, operational ease, and long-term value-add potential in one of Los Angeles’ most desirable rental markets. Investment Highlights: • Prime Fairfax Location - WeHo Adjacent • Long-Term Ownership - Same Owner for Over 50 Years • Around the Corner from Fairfax High School and Melrose Trading Post • Efficient Unit Mix of All One-Bedroom Units • Solid Remaining Rental Upside Potential (+20%) • Charming Spanish-Style Architecture • Select Units are Fully Renovated with Stainless Steel Appliances, Hardwood Floors Throughout, New Kitchen Cabinets, Quartz Countertops, and Modern Finishes • Rare Widened Shared Driveway - Ease of Ingress and Egress

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 5.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.2% asking cap rate is in line with the Greater Los Angeles multifamily market average of about 5.0%.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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