721 S Mariposa Ave - Apartments FOR SALE


Los Angeles, CA 90005- Koreatown | 
$3,950,000 USD
310-650-3510
721 S Mariposa Ave, Los Angeles, CA for Sale
$3,950,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

721 S Mariposa Ave
Los Angeles, CA 90005
Koreatown


HIGHLIGHTS

  • Prime Koreatown Location
  • First Time on the Market in Almost 50 Years
  • Current Rents Roughly 40% Below Market
  • Opportunity Zone
  • 8.78 GRM
  • Outstanding Opportunity to Add Value Through Operational Efficiencies

OVERVIEW

PRIME KOREATOWN MULTIFAMILY INVESTMENT OPPORTUNITY Located in the vibrant and dynamic Koreatown neighborhood of Los Angeles, 721 South Mariposa Avenue presents an opportunity to acquire a well-maintained 32-unit apartment building in one of the city’s most rapidly evolving submarkets. Built in 1926, of masonry construction, this charming property features larger-than-average units with a mix of 26 single units and 6 one-bedroom, townhouse-style units. Current rents are at least 40% below market, offering a substantial value-add opportunity for an incoming investor, in addition to creating operational efficiencies, instituting a RUBS program and expanding the laundry service for additional income.

FOR SALE DETAILS

PRICE

$3,950,000 USD

PRICE/SF

$147 USD /SF

# OF UNITS

32

PRICE/UNIT

$123,438

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,102 SF

ZONING

LAR5

APN/PARCEL ID

5094-005-004

ASK ABOUT THIS PROPERTY

Rob ZahariaNAI CapitalMore Info
310-650-3510

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Rob ZahariaNAI CapitalMore Info
310-650-3510

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.