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1138 S Mariposa Ave, Los Angeles, CA 90006
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1138 S Mariposa Ave Los Angeles, CA 90006

$1,499,000
  • 8 Beds
  • 7 Baths
  • 4,064 Sq.Ft.
For Sale
$1,499,000 Get Pre-Qualified
Map preview of 1138 S Mariposa Ave, Los Angeles, CA 90006

Property Overview: 1138 S Mariposa Ave Los Angeles, CA has 8 bedrooms, 7 bathrooms, 4,064 living square feet and 5,904 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are proud to present this well maintained 7-unit investment opportunity in the highly sought-after and fast growing area of Pico Union / Koreatown. Situated on a 5,904 square foot parcel, the property is comprised of one single unit, four one-bedroom units, and two two-bedroom units amounting to 4,064 square feet of living space. Originally built in 1960 (2 units have recently been remodeled), the subject property features functional and versatile layouts to accommodate various tenant preferences and each unit is equipped with separately metered gas and electricity, minimizing operational costs and complexities. Additionally the property offers on-site laundry, ample parking with space to accommodate up to eight vehicles, and has had the soft story retrofit work completed. The property has significant rental upside through unit renovations and can present an opportunity for development-minded investors thanks to the LAR3 zoning. Ideally located within a short distance to the hubs of Koreatown, Pico Union, DTLA, and easy access to freeways, public transportation, schools, shops, dining, and entertainment. The continued gentrification of the surrounding area along with the value-add potential for a new owner makes 1138 S Mariposa an excellent acquisition for the most discerning investor. **Cap Rate of 8+% & GRM of 8.98% is based on projected income, not actual.**

Listed by David Lukan | BRE #01873011 | Compass
Co-listed by Jonathan Yuen | BRE #01952091 | Iota Realty
Last checked: 7 seconds ago | Last updated: April 20th, 2024 | Source CRMLS | DOM: 278
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Home details

Lot Sq. Ft
5,904
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
23299041
City
Los Angeles
County
Los Angeles
Time on Site
285 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,125
  • Total Rent: $1,125
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,872
  • Total Rent: $1,872
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,076
  • Total Rent: $1,076
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,339
  • Total Rent: $1,339
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,083
  • Total Rent: $1,083
  • Pro Forma/Market Rent: $1,850
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $985
  • Total Rent: $985
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 8%
  • Gross Rent Multiplier: 8.98
  • Gross Scheduled Income: --
  • Net Operating Income: $124,472
  • Gross Operating Income: $166,800
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1138 S Mariposa Ave

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Property Details for 1138 S Mariposa Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Kitchen Information
  • Has Appliances
  • Disposal, Refrigerator
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Side by Side, Uncovered, Concrete, Attached Carport
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 5078021019
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: On S Mariposa Ave between 11th St & 12th St. Use Google Maps for directions
View more facts & features

Local Los Angeles Agent

Sale History for 1138 S Mariposa Ave

Last sold on May 4th, 2018

  • August, 2023

  • Aug 9, 2023

    Date

    Active

    CRMLS: 23299041

    $1,565,000

    Price

  • October, 2022

  • Oct 27, 2022

    Date

    Canceled

    CRMLS: 22187833

    $1,700

    Price

  • Aug 9, 2022

    Date

    Active

    CRMLS: 22187833

    $1,900

    Price

  • Listing provided courtesy of CRMLS

    7 Unit Apartment , Prime Location , A completely renovated , new kitchen , new bathroom, Minutes from restaurants and Shopping.

  • August, 2020

  • Aug 11, 2020

    Date

    Expired

    CRMLS: 20552996

    $1,800

    Price

  • Jul 17, 2020

    Date

    Withdrawn

    CRMLS: 20552996

    $1,800

    Price

  • Feb 11, 2020

    Date

    Active

    CRMLS: 20552996

    $1,800

    Price

  • Listing provided courtesy of CRMLS

    7 UNIT APARTMENT , PRIME LOCATION , A COMPLETELY RENOVATED , NEW KITCHEN, LARGE PANTRY, NEW BATHROOM, NICE AND QUIET NEIGHBORHOOD. MINUTES FROM RESTAURANTS, SHOPPING.

  • May, 2018

  • May 8, 2018

    Date

    Sold

    CRMLS: 18322466

    $1,460,000

    Price

  • Apr 26, 2018

    Date

    Pending

    CRMLS: 18322466

    $1,499,000

    Price

  • Mar 13, 2018

    Date

    Active

    CRMLS: 18322466

    $1,499,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent 7 unit income property situated in a prime location minutes from Downtown LA, Korea Town,USC and easy freeway access.Great investment opportunity.Plentiful parking.Well maintained building. Nice and quiet neighborhood.Minutes from restaurants,shopping,and entertainment.

  • May, 2018

  • May 4, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • May, 2018

  • May 4, 2018

    Date

    Sold (Public Records)

    Public Records

    $1,460,000

    Price

Show More

Tax History for 1138 S Mariposa Ave

Assessed Value (2020): $1,519,284
Year Land Value Improved Value Assessed Value
2020 $1,175,652 $343,632 $1,519,284

Home Value Compared to the Market

This property vs the competition

1138 S Mariposa Ave is listed 19.92% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $777 and this home is listed at $368.85 per/sqft which puts the price per square foot 52.53% lower than the median price per square foot for the city of Los Angeles.

About 1138 S Mariposa Ave

Detailed summary of property

1138 S Mariposa Ave is a multi family located in Los Angeles, CA 90006 and is currently for sale. This multi family property offers 8 bedrooms, 7 bathrooms, roughly 4,064 living square feet, and sits on an approximately 5,904 square foot lot. 1138 S Mariposa Ave was first listed on ArdentRealEstateGroup.com on August 9, 2023. The homeowner is currently asking $1,499,000 and was originally asking $1,565,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $777. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 19.92% higher than the median priced home. Local competing homes currently for sale include 946 S Kingsley Dr, 926 S Ardmore Ave and 1229 S Harvard Blvd. While the average home in Los Angeles, CA is selling in 92 days, 1138 S Mariposa Ave has a days on market of 278 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1138 S Mariposa Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1138 S Mariposa Ave

Public county record property details
Beds
8
Baths
7
Year built
1960
Sq. Ft.
4,064
Lot Size
5,903
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
18
APN
5078-021-019

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$606
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
38
Median Sale to List Price %
98.71%
Avg Days on Market
36
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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