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1138 S MARIPOSA AVE LOS ANGELES, CA 90006
- Townhouse or Condo / Resale (MLS)
Property Details for 1138 S MARIPOSA AVE, LOS ANGELES, CA 90006
Features
- Price/sqft: $368
- Lot Size: 5904
- Total Units: 7
- Total Rooms: 5
- Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Construction Type: Wood
Facts
- Year Built: 01/01/1960
- Property ID: 807277420
- MLS Number: 23-299041
- Parcel Number: 5078-021-019
- Property Type: Townhouse or Condo
- County: LOS ANGELES
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. 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.**
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Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.
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