1138 South Mariposa Avenue

Los Angeles, CA 90006

$1,499,000
Price
8
Beds
7
Baths
4,064 Sq. Ft.
$369 / Sq. Ft.
4,064
Sq. Ft.
$369
per Sq. Ft.

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

  1. David Lukan

    David Lukan

    Listing Agent

    Compass

    DRE #01873011

Property Details for 1138 South Mariposa Avenue

Zoning
LAR3
Parcel Number
5078021019
Total Units
7.0
Living Area
4064
Source Living Area
Assessor
Area
Mid-Wilshire (C17)
Vacancy Rate
0
Lot Size Area
5904

Location

Listing Courtesy of Compass, David Lukan, DRE #01873011; Iota Realty, Jonathan Yuen, DRE #01952091
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LISTING UPDATED: 04/20/2024 03:16 PM

Property Details for 1138 South Mariposa Avenue

StatusActive
MLS #23-299041
Days on Market262
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.14 AC / 5,904 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, David Lukan, DRE #01873011; Iota Realty, Jonathan Yuen, DRE #01952091
Add your commute

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

30 year fixed, 7.25% Interest

Principal and Interest

$8,181

Property Taxes

$1,680

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1138 South Mariposa Avenue

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: 7
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $166,800
  • Net Operating Income: $124,472.00
  • Gross Income: $13,900
  • Cap Rate: 8.00%
  • Gross Rent Multiplier: $8.98
  • Actual Annual Gross Rent: $105,382.20
  • Actual Gross Annual Income: $105,742
  • Actual Rent Total: $8,781.85
  • Financial Info as Of: 04/17/2024
  • Owner Pays: Gardener, Gas, Water, Other
  • Total Annual Expense: 32056
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1355
  • Lot Size Square Feet: 5904
Parking Details
Parking Details
  • Parking Garage: Side By Side, Uncovered, Driveway - Concrete, Carport Attached
  • Total Parking: 8
  • Open Other Spaces Total: 6
  • Carport Spaces Total: 2
  • Parking Features: Side by Side, Uncovered, Concrete, Attached Carport
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Air Conditioning
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Built-Ins, Garbage Disposal, Refrigerator, Range/Oven
  • Common Walls: Attached
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-09-2023
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,083.60
  • Unit Actual Rent: $1,083.60
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,125.10
  • Unit Actual Rent: $1,125.10
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $985.50
  • Unit Actual Rent: $985.50
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,872.00
  • Unit Actual Rent: $1,872.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,076.50
  • Unit Actual Rent: $1,076.50
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,339.00
  • Unit Actual Rent: $1,339.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,300.00
  • Unit Actual Rent: $1,300.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $353,825.00
  • Assessed Improvement Percent: 22.6
  • Assessed Land Value: $1,211,587.00
  • Assessed Land Percent: 77.4
  • Assessed Total Value: $1,565,412.00

Property History for 1138 South Mariposa Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

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.

Similar Homes

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1138 South Mariposa Avenue is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on August 9, 2023 by Compass, it's currently listed at $1,499,000. It has been on the market for a total of 262 days and was last sold on April 25, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Los Angeles Elementary School, Berendo Middle School and West Adams Preparatory High School. 1138 South Mariposa Avenue is a 8-bed, 7-bath, 4,064 sqft multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, David Lukan, DRE #01873011; Iota Realty, Jonathan Yuen, DRE #01952091

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.