1316 S Mariposa AVE

LOS ANGELES, CA, 90006

$3,500,000

$355 per ft²
$3,500,000
$355 per ft²
Active
Active
 - For Sale
baths
1 Bath
carpenters-square
9,840 ft²
property_type
Multi-family
calendar
Built 1925
1316 South Mariposa Avenue is a 20 unit apartment complex residing between exciting Koreatown to the North and the popular West Adams neighborhood just blocks to the South. Combining the appreciation of lively Pico-Union area properties with an estimated 22% rental upside will let the buyer take advantage of this attractive investment opportunity. Additionally, there is very attractive assumable financing available at 67% LTV, 3.00% interest, amortizing. Maturity date of 3/1/26. This property features all well-laid out studio apartments averaging just under 500 square feet each (Buyer to verify) with good sized bathrooms, ample closet space, and full kitchens! The units are individually metered for electricity, and the building is master metered for gas. Many of the units have been turned already, allowing the new owner to step into an already-performing investment operating at a current 5% Cap Rate! The common area hallways have also been enhanced. 1316 Mariposa is surrounded by great neighborhoods like Harvard Heights, Pico-Union, and is in close proximity to Koreatown, West Adams, and most of Los Angeles! With a walk score of 90, tenants will be delighted in their ability to accomplish most (if not all) daily errands on foot. In addition, the area is flooded with trendy dining and entertainment options, and Pico Boulevard has an abundance of unique shops and boutiques to explore.
MLS® ID:
SB22249928MR
Listed:
12/1/22
Updated:
1/27/23

Interior Features

Total Bedrooms
0
Total Bathrooms
1
Laundry Description
Laundry Area

Exterior/Building Features

Lot Size
6,498 ft² lot
Sewer
Public Sewer

Other Property Details

Garage
No
Parking
N
View
N
County
Los Angeles
Water Source
Public
Pool
No
Pool Description
None
Zoning
LAR3

Courtesy of Keller Williams Beach Cities, Josh Cohen,
Listing Contact:  

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2023 Combined L.A./Westside MLS. All rights reserved.

Data last updated 1/27/23

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