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$1,500,000
Est. payment /mo
4 Beds
10 Baths
4,380 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,380 sqft
Price per Sqft $342
MLS Listing ID 25520575
Bedrooms 4
HOA Y/N No
Year Built 1926
Lot Size 5,906 Sqft
Property Description
We are pleased to present a ten (10) unit apartment building located at 1205 S Mariposa Avenue in Los Angeles, California. The subject property is located in a solid Pico Union location, north of Pico Blvd and east of Normandie Ave. Built in 1926, this property consists of a good unit mix of six (6) studios and four (4) one-bedroom units. It offers a very strong initial caprate of 6.49%, presenting an attractive investment opportunity with solid returns. The character Spanish-style bungalows are gated and secure, with a center courtyard and easily maintained landscaping. There is also ample street parking available for both tenants and visitors. Positioned adjacent to Koreatown, the property provides convenient access to major commercial corridors like Vermont Avenue, Western Avenue, and Wilshire Boulevard, as well as the 10, 110, and 101 freeways. With such close proximity to the Koreatown commercial corridor, tenants can enjoy nearby amenities such as The Wiltern, CGV Cinemas, Koreatown Galleria, and Park's BBQ. Additionally, outdoor recreation options like Seoul International Park and Normandie Recreation Center are located nearby, making this a desirable investment opportunity. Situated in a solid Pico Union location, this property offers a strong initial cap rate of 6.49% as well as easy access to key amenities and transit options nearby.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features None
Building
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5078035002
Special Listing Condition Standard
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Listed by Jason Tuvia • Marcus & Millichap