514 South Mariposa Avenue

Los Angeles, CA 90020

$4,650,000
Price
17
Beds
19
Baths
12,294 Sq. Ft.
$378 / Sq. Ft.
12,294
Sq. Ft.
$378
per Sq. Ft.

Description

Habitat Apartments is a 19-unit apartment building located at 514 S. Mariposa Ave in the highly desirable Koreatown neighborhood of Los Angeles. Built in 1960, the property offers renters a high demand unit mix of 2 studios and 17 one-bedroom units across +/- 12,294 square feet of improvements on +/- 11,250 square feet of land. The thoughtfully maintained property features 12 extensively renovated units featuring new hardwood floors, kitchen cabinets, countertops, stainless steel appliances, designer...Habitat Apartments is a 19-unit apartment building located at 514 S. Mariposa Ave in the highly desirable Koreatown neighborhood of Los Angeles. Built in 1960, the property offers renters a high demand unit mix of 2 studios and 17 one-bedroom units across +/- 12,294 square feet of improvements on +/- 11,250 square feet of land. The thoughtfully maintained property features 12 extensively renovated units featuring new hardwood floors, kitchen cabinets, countertops, stainless steel appliances, designer tiles, fixtures, and lighting. The bathrooms have been updated with modern vanities and tile, bathtubs, and hardware. In addition, the units have new vinyl windows and either wall or split system air-conditioning units. New ownership can continue to capture an additional +/- 26% upside in rents through comprehensive renovations of the remaining unit interiors. The charming Mid-Century design, location, and resort-style feel, are major draws for tenants at the Habitat Apartments. Additional drivers leading to the historically high rents being achieved at Habitat include the elevated level of renovations and designer touches. Tenants have proven they are willing to pay more for a premium product which exceeds the level of detail found at competing properties. The building has 19 tuck-under parking spaces and one laundry room. Utilities are separately metered for electricity and gas, and there is one central water heater. Located in the heart of the Koreatown neighborhood, just east of Normandie Ave, and north of Wilshire Blvd, Habitat Apartments offers tenants access to major employment centers and a broad range of entertainment and recreation opportunities, all within a short walk. The Wilshire/Normandie Purple Line is a few-minute walk from Habitat.
  1. Listed by Adam Zunder • DRE #01821053 • Brokerage DRE #01229985 • Iconic Investments

Property Details for 514 South Mariposa Avenue

Zoning
LAR4
Parcel Number
5502019006
Total Units
19.0
Living Area
12294
Source Living Area
Vendor Enhanced
Area
Mid-Wilshire (C17)
Vacancy Rate
1%
Lot Size Area
11254

Location

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053
Add your commute
LISTING UPDATED: 03/27/2024 12:01 AM

Property Details for 514 South Mariposa Avenue

StatusActive
MLS #24-370505
Days on Market41
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.26 AC / 11,254 SF
CountyLos Angeles County

Location

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053
Add your commute

Building Information for 514 South Mariposa Avenue

Stories2Residences-Year Built1960Building Size-Lot Size0.26 AC / 11,254 SF

Payment Calculator

$29,909 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,377

Property Taxes

$4,532

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 514 South Mariposa Avenue

Community / Development
Community / Development
  • Number Of Units: 19
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $377,680
  • Net Operating Income: $233,745.00
  • Gross Income: $377,680
  • Cap Rate: 5.03%
  • Gross Rent Multiplier: $12.69
  • Total Annual Expense: 142188
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2584
  • Lot Size Square Feet: 11254
Parking Details
Parking Details
  • Parking Garage: Community Garage, Controlled Entrance
  • Total Parking: 19
  • Parking Features: Community Structure, Controlled Entrance
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Window Unit(s), Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,250.00
  • Unit Actual Rent: $2,502.00
  • Unit Projected Rent: $3,700.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,704.00
  • Unit Actual Rent: $28,971.00
  • Unit Projected Rent: $38,350.00
  • Like Units: 17
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,312,374.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $3,062,207.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $4,374,581.00

Property History for 514 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 514 South Mariposa Avenue

Taxable ValueLand$3,062,207Additions$1,312,794Total$4,375,001
Tax Record2023$54,382 ($4,532 / month)
Home Facts
Total Finished SqFt12,294 SqFtAbove Grade Finished SqFt12,294 SqFtLot Size11,250 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLAR4CountyLOS ANGELESAPN5502-019-006

Schools near 514 South Mariposa Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - K to 12
Public - 6 to 8
Rating
School
Distance
UCLA Community School
PublicK to 12

Young Oak Kim Academy
Public6 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.

Similar Homes

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514 South Mariposa Avenue is a multi-family home for sale in Los Angeles, CA 90020. This property was listed for sale on March 19, 2024 by Iconic Investments, it's currently listed at $4,650,000. It has been on the market for a total of 41 days and was last sold on July 13, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Rfk Community Schools - Ambassador School - Global Education, Rfk Community Schools-New Open World Academy K-12 and UCLA Community School. 514 South Mariposa Avenue is a 17-bed, 19-bath, 12,294 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 Iconic Investments, Adam Zunder, DRE #01821053

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.