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724 Mariposa Avenue
Los Angeles, CA 90005
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.
PROPERTY INFORMATION
| MLS # | 24448161 | Lot Size | 8,087 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 5,000,000
Price Per SqFt: $ 207 |
DOM | 285 Days |
| Address | 724 Mariposa Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 24,200 Sq. Ft. |
| Postal Code | 90005 | Garage | 20 |
| County | Los Angeles | Year Built | 1930 |
| Bed / Bath | 40 / 0 | Parking | 20 |
| Built In | 1930 | Status | Active |
INTERIOR FEATURES
| Has Appliances | Yes |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | No |
| Cooling Information | None |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $5,333
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/02/2024 | Listed | $5,000,000 |
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Listing provided courtesy of Adam Zunder, Iconic Investments. 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.
