1138 S Mariposa Ave, Los Angeles, CA 90006 Homes for Sale

For Sale

$1,499,000

• 8 beds
• 0 baths
• 4064 Sq Ft

1138 S Mariposa Avenue,
Los Angeles, CA, 90006

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Overview

Listing Status Active

MLS 23-299041

Property Type

Other

Year built

1960

Total rooms

8

Lot size

0.14 Acres

Time on NeighborWho

282 days

Stories

-

Price per Sq Ft

$369

Parking

8e0 car garage

Basement

-

About 1138 S Mariposa Ave, Los Angeles, CA

We are proud to present this well maintained 7-unit investment opportunity in the highly sought-after and fast growing area of Pico Union / Koreatown. Situated on a 5,904 square foot parcel, the property is comprised of one single unit, four one-bedroom units, and two two-bedroom units amounting to 4,064 square feet of living space. Originally... built in 1960 (2 units have recently been remodeled), the subject property features functional and versatile layouts to accommodate various tenant preferences and each unit is equipped with separately metered gas and electricity, minimizing operational costs and complexities. Additionally the property offers on-site laundry, ample parking with space to accommodate up to eight vehicles, and has had the soft story retrofit work completed. The property has significant rental upside through unit renovations and can present an opportunity for development-minded investors thanks to the LAR3 zoning. Ideally located within a short distance to the hubs of Koreatown, Pico Union, DTLA, and easy access to freeways, public transportation, schools, shops, dining, and entertainment. The continued gentrification of the surrounding area along with the value-add potential for a new owner makes 1138 S Mariposa an excellent acquisition for the most discerning investor. **Cap Rate of 8+% & GRM of 8.98% is based on projected income, not actual.** Read more

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