32
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$1,800,000
Est. payment /mo
5,906 Sqft Lot
New
1214 S Mariposa AVE Los Angeles, CA 90006
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UPDATED:
12/20/2024 02:21 PM
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW24251716
HOA Y/N No
Year Built 1917
Lot Size 5,906 Sqft
Property Description
1214 South Mariposa Avenue is a charming seven-unit property offering 3,360 rentable square feet on a 5,904-square-foot LAR3-zoned lot. The property features seven one-bedroom, one-bathroom units, with four units fully remodeled and currently vacant. Each unit is detached, averaging approximately 480 square feet, and individually metered for gas and electricity, with separate water heaters for added convenience.
Three of the seven units are scheduled to be vacant, presenting a unique opportunity for a new owner to customize occupancy.
Located in the rapidly growing Koreatown neighborhood, this property benefits from proximity to Pico Boulevard and Normandie Avenue on a street experiencing significant improvements. Residents enjoy easy access to Koreatown's vibrant dining, shopping, entertainment, and employment opportunities, as well as nearby hotspots in Hollywood and Downtown Los Angeles.
Boasting a "Walker's Paradise" Walk Score of 92, the location allows most daily errands to be completed on foot. Nearby attractions include Monty's Good Burger, Park's BBQ, California Marketplace, and an array of local eateries and bars.
With ongoing development and revitalization in the area, 1214 South Mariposa Avenue offers significant value-add potential. A new owner can reposition the vacant units, select tenants, and further enhance the property's appeal.
This property, located within the City of Los Angeles, is subject to rent control regulations, making it a compelling acquisition for investors seeking a combination of stable income and growth potential.
Three of the seven units are scheduled to be vacant, presenting a unique opportunity for a new owner to customize occupancy.
Located in the rapidly growing Koreatown neighborhood, this property benefits from proximity to Pico Boulevard and Normandie Avenue on a street experiencing significant improvements. Residents enjoy easy access to Koreatown's vibrant dining, shopping, entertainment, and employment opportunities, as well as nearby hotspots in Hollywood and Downtown Los Angeles.
Boasting a "Walker's Paradise" Walk Score of 92, the location allows most daily errands to be completed on foot. Nearby attractions include Monty's Good Burger, Park's BBQ, California Marketplace, and an array of local eateries and bars.
With ongoing development and revitalization in the area, 1214 South Mariposa Avenue offers significant value-add potential. A new owner can reposition the vacant units, select tenants, and further enhance the property's appeal.
This property, located within the City of Los Angeles, is subject to rent control regulations, making it a compelling acquisition for investors seeking a combination of stable income and growth potential.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Fireplace No
Appliance Dryer
Laundry Gas Dryer Hookup, Laundry Closet
Exterior
Pool None
Community Features Street Lights, Sidewalks
Private Pool No
Building
Lot Description No Landscaping
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5078034024
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Tommy Kim • Lifetime Realty Inc • 714-728-6564