J
Seller's Agent in 2023
Joshua Cohen
Keller Williams South Bay
1316 S Mariposa Ave Los Angeles, CA 90006
Pico-Union Neighborhood
--
Bed
1
Bath
9,840
Sq Ft
6,498
Sq Ft Lot
Highlights
- Laundry Room
- Level Lot
- 3-minute walk to Normandie Recreation Center
About This Home
As of November 2023Price 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.
Last Agent to Sell the Property
Joshua Cohen
Keller Williams South Bay License #01346713 Listed on: 12/02/2022
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1925
Lot Details
- 6,498 Sq Ft Lot
- Two or More Common Walls
- Level Lot
Home Design
- 9,840 Sq Ft Home
- Property Attached
Additional Features
- 1 Bathroom
- Laundry Room
- Exterior Lighting
Listing and Financial Details
- Legal Lot and Block 6 / B
- Tax Tract Number 2212
- Assessor Parcel Number 5075008006
- $1,443 per year additional tax assessments
Community Details
Building Details
- Rent Control
- 20 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Other Expense $108,150
- Operating Expense $108,150
- Gross Income $291,879
- Net Operating Income $177,891
Additional Features
- 20 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/13/2023 11/13/23 | Sold | $3,160,000 | -4.2% | $321 / Sq Ft |
| 07/13/2023 07/13/23 | Pending | -- | -- | -- |
| 05/22/2023 05/22/23 | Price Changed | $3,300,000 | -2.9% | $335 / Sq Ft |
| 02/27/2023 02/27/23 | Price Changed | $3,400,000 | -2.9% | $346 / Sq Ft |
| 12/02/2022 12/02/22 | For Sale | $3,500,000 | -- | $356 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
Bruce Lavi
Buyer's Agent in 2023
Bruce Lavi
Keller Williams Realty-Studio City
(818) 235-7290
1 in this area
16 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB22249928
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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