We are pleased to present a seven (7) unit apartment building located at 1214 South Mariposa Avenue in Los Angeles, California. The subject property is situated in a strong Koreatown location, north of Pico Boulevard and east of Normandie Avenue. Built in 1917, this property contains a streamlined unit mix of seven (7) detached one bedroom / one bathroom bungalow style units. Three (3) units will be delivered vacant for immediate renovation and lease-up. The property is lush with greenery that runs down the peaceful center courtyard. Each unit has its own back porch area, separate water heaters, and is separately metered for gas and electricity. Tenants will love being just a short walking distance to prime Koreatown, boasting some of the trendiest retail, restaurant, and entertainment in Los Angeles. Residents can shop fresh at the Galleria Market, eat hearty at the numerous K-BBQ options, and unwind at one of the many karaoke spaces or bars, all within a mile of the subject property. Situated in a strong Koreatown location, this offering presents an excellent opportunity for any investor to capitalize on positive initial cash flow with over 60% rental upside potential in a qualified Opportunity Zone of core Los Angeles.
|--||New Value: $1,450,000|
|6/23/2022 3:41:00 PM||New Value: $1,450,000|