Thank you
David Lukan
Compass
323-593-6999
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.**
Sell a home like this and save $89,441 Find Out How
Total Bedrooms : 8
Total Baths: 7
Full Baths: 0
Half Baths: 0
Property Appliances: Disposal,Refrigerator
Wall Furnace
Has Heating
Year Built: 1960
Building Area Total: 4,064
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1355
Lot Size Source: Assessor
Lot Size Square Feet: 5904
Original List Price: 1,499,000
Listing Contract Date: 2023-08-09
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5078021019
Garage Description: Attached Carport,Concrete,Side By Side,Uncovered
Attached Garage: Yes
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C17 - Mid-Wilshire
Postal Code Plus 4: 3260
Directions: On S Mariposa Ave between 11th St & 12th St. Use Google Maps for directions
Zoning: LAR3
Source Property Type: Residential Income
Area: C17 - Mid-Wilshire
Property Age: 64
Year Built Source: Assessor
Total Square Feet Living: 4064
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1637 S Vermont Avenue, Los Angeles, CA,90006 | $2,600,000 | -- | -- | -- | 12750 Sqft |
1833 W Pico Boulevard, Los Angeles, CA,90006 | $1,350,000 | -- | -- | -- | 6247 Sqft |
1225 S Harvard Boulevard, Los Angeles, CA,90006 | $1,200,000 | -- | -- | -- | 5918 Sqft |
980 S Oxford Avenue #403, Los Angeles, CA,90006 | $780,000 | 3 | 2 | 1,324 | 15497 Sqft |
1661 S Normandie Avenue, Los Angeles, CA,90006 | $1,200,000 | 2 | 1 | 3,396 | 6208 Sqft |
1421 Courtland Avenue, Los Angeles, CA,90006 | $900,000 | -- | -- | 2,087 | 3941 Sqft |
1144 Elden Avenue, Los Angeles, CA,90006 | $3,000,000 | 18 | -- | 9,758 | 7000 Sqft |
980 S Oxford Avenue #103, Los Angeles, CA,90006 | $760,000 | 3 | 2 | 1,350 | 15497 Sqft |
1125 S Lake Street, Los Angeles, CA,90006 | $968,000 | 9 | 4 | 4,117 | 8579 Sqft |
2970 W 11th Street, Los Angeles, CA,90006 | $1,349,000 | 7 | -- | 4,103 | 5908 Sqft |
Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
ByOwner last updated this listing 04/29/2024 @ 17:21
MLS: 23299041
LISTED BY: David Lukan, Compass
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.