724 S Mariposa Ave, Los Angeles, CA 90005 – 24-448161

See all 15 photos

$4,500,000

Est. payment - /mo

Save

40 BD

40 BA

24,200 SqFt

Price Dropped by $500K

724 S Mariposa Ave Los Angeles, CA 90005

Save

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sun

Dec

Mon

Dec

Tue

Dec

Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/09/2024 06:23 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 24,200 sqft

Price per Sqft $185

MLS Listing ID 24-448161

Bedrooms 40

Year Built 1930

Lot Size 8,087 Sqft

Acres 0.1857

Property Description

We are pleased to present for sale, The Ambassador Apartments, located at 724 S. Mariposa Ave. This prime Koreatown location is just south of Wilshire BLVD and east of Normandie Ave, offering easy access to the Wilshire/Normandie Metro Station, restaurants, shopping, and entertainment. Ambassador Apartments features 40 units with eight Bachelors, twenty-four Studios, and eight 1 Bedroom/ 1 Bath units. The property has a subterranean parking garage with 20 individual parking spaces. Utilities are master metered for both gas and electric, with one central water heater. The roof was completely replaced, down to the plywood, in 2020. Ambassador Apartments was built in 1930 and is brick construction. This is a great opportunity to acquire Ambassador Apartments with an in-place Cap Rate of 7.11% and a 7.24 GRM, with upside to a 8.35% Cap Rate and a 7.09 GRM. The price per unit is $125,000 per unit and $206 per square foot.

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAR5

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Parking Features Controlled Entrance, Community Garage

Garage Spaces 20.0

Building

Story 4

Level or Stories Multi/Split

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Iconic Investments