1138 South Mariposa Avenue
1138 South Mariposa Avenue
$1,499,000
8
7
4,064
4,064
$369
Listed By Compass
Description
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...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.**
Listing Agent
Property Details for 1138 South Mariposa Avenue
Zoning
LAR3
Parcel Number5078021019
Total Units7.0
Living Area4064
Source Living AreaAssessor
AreaMid-Wilshire (C17)
Vacancy Rate0
Lot Size Area5904
Location
LISTING UPDATED: 04/20/2024 03:16 PM
Property Details for 1138 South Mariposa Avenue
Status | Active |
---|---|
MLS # | 23-299041 |
Days on Market | 262 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
Lot Size | 0.14 AC / 5,904 SF |
County | Los Angeles County |
Location
Virtual Tour
Building Information for 1138 South Mariposa Avenue
Stories2Residences-Year Built1960Building Size-Lot Size0.14 AC / 5,904 SF
Payment Calculator
$9,861 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1138 South Mariposa Avenue
Property History for 1138 South Mariposa Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1138 South Mariposa Avenue
Taxable ValueLand$1,235,818Additions$361,201Total$1,597,019
Tax Record2023$20,159 ($1,680 / month)
Home Facts
Total Finished SqFt4,064 SqFtAbove Grade Finished SqFt4,064 SqFtLot Size5,904 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLAR3CountyLOS ANGELESAPN5078-021-019
Schools near 1138 South Mariposa Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Los Angeles Elementary School PublicK to 5 | ||
Berendo Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
Monsenor Oscar Romero Charter Middle School Charter6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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