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724 Mariposa Avenue, Los Angeles, CA 90005
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724 Mariposa Avenue
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  • MLS#: 24448161 ( )
  • Street Address: 724 Mariposa Avenue
  • Viewed: 2
  • Price: $5,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1930
  • Bldg sqft: 0
  • Days On Market: 45
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90005
  • Provided by: Iconic Investments
  • Contact: Adam Adam
  • California Regional MLS IDX
  • DMCA Notice
  • 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 6.40% and a 8.05 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.
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Features
Building Area Total
  1. 24200.00
Cooling
  1. None
Country
  1. US
Garage Spaces
  1. 20.00
Heating
  1. Wall Furnace
Levels
  1. Multi/Split
Netoperatingincome
  1. 320037.00
Parcel Number
  1. 5094006007
Parking Features
  1. Controlled Entrance
  2. Community Structure
Sourcesystemkey
  1. 24-448161:CLAW
Totalexpenses
  1. 306016.00
Year Built
  1. 1930
Zoning
  1. LAR5