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1316 Mariposa Avenue
Los Angeles, CA 90006
Sold
1316 Mariposa Avenue
Los Angeles, CA 90006
Sold
Price 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.
PROPERTY INFORMATION
| MLS # | SB22249928 | Lot Size | 6,498 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 3,300,000
Price Per SqFt: $ 335 |
DOM | 884 Days |
| Address | 1316 Mariposa Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 9,840 Sq. Ft. |
| Postal Code | 90006 | Garage | N/A |
| County | Los Angeles | Year Built | 1925 |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | 1925 | Status | Closed |
| Sold Date | 2023-11-13 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,520
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/13/2023 | Sold | $3,160,000 |
| 07/13/2023 | Pending | $3,300,000 |
| 05/22/2023 | Price Change | $3,300,000 (-2.94%) |
| 12/02/2022 | Listed | $3,500,000 |
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Listing provided courtesy of Josh Cohen, Keller Williams Beach Cities. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
