Listed By Compass, David Lukan
1138 S MARIPOSA AVE Los Angeles, CA 90006
$1,499,000
8
Bedrooms
7
Total Baths
—
Full Baths
4,064
Square Feet
0.14
Acres
1960
Year Built
Active
Status
MLS#
23-299041
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.**
Details for 1138 S MARIPOSA AVE
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office Compass, 323-593-6999
MLS# 23-299041
Updated 3:47AM - 5/3/2024
Listing Agent David Lukan, 213-700-6515
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