Los Angeles, CA 90006,1316 S Mariposa AVE
Los Angeles, CA 90006,1316 S Mariposa AVE
Los Angeles, CA 90006,1316 S Mariposa AVE
Los Angeles, CA 90006,1316 S Mariposa AVE
Los Angeles, CA 90006,1316 S Mariposa AVE
Los Angeles, CA 90006,1316 S Mariposa AVE
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$3,160,000

$3,300,000

4.2%
Est.Price: ?

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Est. payment /mo

6,499 Sqft Lot


SOLD DATE : 11/13/2023

Key Details

Sold Price $3,160,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SB22249928

Sold Date 11/13/23

HOA Y/N No

Year Built 1925

Lot Size 6,499 Sqft

Property Sub-Type Mixed Use

Property Description

Price just reduced $100,000! 1316 South Mariposa Avenue is a 20 unit apartment complex residing between exciting Koreatown to the North and the popular West Adams neighborhood just blocks to the South. Combining the appreciation of lively Pico-Union area properties with an estimated 22% rental upside will let the buyer take advantage of this attractive investment opportunity. Additionally, there is very attractive assumable financing available at 70% LTV, 3.00% interest, amortizing. Maturity date of 3/1/26. This property features all well-laid out studio apartments averaging just under 500 square feet each (Buyer to verify) with good sized bathrooms, ample closet space, and full kitchens! The units are individually metered for electricity, and the building is master metered for gas. Many of the units have been turned already, allowing the new owner to step into an already-performing investment operating at a current 5% Cap Rate! The common area hallways have also been enhanced. 1316 Mariposa is surrounded by great neighborhoods like Harvard Heights, Pico-Union, and is in close proximity to Koreatown, West Adams, and most of Los Angeles! With a walk score of 90, tenants will be delighted in their ability to accomplish most (if not all) daily errands on foot. In addition, the area is flooded with trendy dining and entertainment options, and Pico Boulevard has an abundance of unique shops and boutiques to explore.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Zoning LAR3

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Street Lights

Private Pool No

Building

Lot Description Street Level

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5075008006

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Assumed

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Josh Cohen • Keller Williams Beach Cities • 310-480-2130
Bought with Behrouz Lavi • Keller Williams Realty-Studio City
agent-avatar

+1(818) 430-2878

moises@dreambigrealty.com

15545 Devonshire St, Mission Hills, CA, 91345-2638, USA

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