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1316 S Mariposa Ave, Los Angeles, CA 90006
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1316 S Mariposa Ave Los Angeles, CA 90006

$3,160,000 Sold Price as of 11/13/2023
  • 0 Beds
  • 20 Baths
  • 9,840 Sq.Ft.
Sold
$3,160,000 Sold Price as of 11/13/2023 Refinance Your Mortgage
Map preview of 1316 S Mariposa Ave, Los Angeles, CA 90006

Property Overview: 1316 S Mariposa Ave Los Angeles, CA has -- bedrooms, 20 bathrooms, 9,840 living square feet and 6,498 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Josh Cohen | BRE #01346713 | Keller Williams Beach Cities
Last checked: 11 minutes ago | Last updated: November 13th, 2023 | Source CRMLS | DOM: 223

Home details

Lot Sq. Ft
6,498
HOA Dues
$0/mo
Year built
1925
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
SB22249928
City
Los Angeles
County
Los Angeles
Time on Site
524 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 20
  • Total # of Buildings: 1
  • # of Electric Meters: 20
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 20
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $24,328
  • Total Rent: $24,328
  • Pro Forma/Market Rent: $29,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.39%
  • Gross Rent Multiplier: 11.31
  • Gross Scheduled Income: $291,879
  • Net Operating Income: $177,891
  • Gross Operating Income: --
  • Other Income Description: Contact for more inc/exp info
Annual Expense Breakdown
  • Total Operating Expense: $108,150
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $108,150
  • Other Expense Description: Contact

Property Details for 1316 S Mariposa Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 20
  • Parcel Number: 5075008006
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Near Pico
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 1316 S Mariposa Ave

Last sold for $3,160,000 on November 13th, 2023

  • November, 2023

  • Nov 13, 2023

    Date

    Sold

    CRMLS: SB22249928

    $3,160,000

    Price

  • Dec 2, 2022

    Date

    Active

    CRMLS: SB22249928

    $3,500,000

    Price

  • August, 2022

  • Aug 16, 2022

    Date

    Expired

    CRMLS: 22161199

    $3,900,000

    Price

  • May 25, 2022

    Date

    Active

    CRMLS: 22161199

    $3,900,000

    Price

  • Listing provided courtesy of CRMLS

    The Del Arms Apartments, in the Pico-Union submarket of Los Angeles. Built in the 1920's, the property features twenty charming studio units with efficient use of space. Located at 1316 S. Mariposa Ave, The Del Arms Apartments is just south of Pico Blvd and east of Normandie Ave. The building features one central water heater and is master-metered for gas and individually metered for electric. The Seller has renovated 13 of the 20 units with newer kitchens, hardwood flooring, bathroom upgrades, modern paint, fixtures and ceiling fans. In addition, the common areas have been modernized with hardwood flooring, paint, lighting and door numbers. The purchaser has the ability to continue to remodel and renovate units to attract higher-paying tenants. Tenants are moving to the Pico Union submarket for its affordability and closeness to Downtown Los Angeles, Koreatown and Mid-City. A Buyer can greatly increase their day-1 cashflow by simply assuming the attractive in-place financing. The in-place debt is $2,389,000 (39% LTV) at a rate of 3.00% (interest only) with a maturity date of March 2nd, 2026. The lender is Greystone Servicing. In the event a Buyer chooses to assume the existing loan, all assumption costs shall be the responsibility of the Buyer.

  • October, 2018

  • Oct 19, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,600,000

    Price

Show More

Tax History for 1316 S Mariposa Ave

Assessed Value (2020): $2,654,200
Year Land Value Improved Value Assessed Value
2020 $1,020,000 $1,634,200 $2,654,200

Home Value Compared to the Market

This property vs the competition

1316 S Mariposa Ave sold on November 13, 2023 for 177.31% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $335.37 per/sqft which puts the price per square foot 55.58% lower than the current median sale per square foot for the city of Los Angeles.

About 1316 S Mariposa Ave

Detailed summary of property

1316 S Mariposa Ave is a mixed use that recently sold in Los Angeles, CA 90006. This mixed use property offered -- bedrooms, 20 bathrooms, roughly 9,840 living square feet, and sits on an approximately 6,498 square foot lot. 1316 S Mariposa Ave was first listed on ArdentRealEstateGroup.com on December 2, 2022. The homeowner sold the property for $3,160,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 177.31% higher than the current median priced home. Local homes that are currently for sale include 1128 Stanley Ave, 1049 E 5th St and 1830-1838 E 7th St. While the average home in Los Angeles, CA is selling in 94 days, 1316 S Mariposa Ave has a days on market of 223 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 1316 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 1316 S Mariposa Ave

Public county record property details
Beds
--
Baths
20
Year built
1925
Sq. Ft.
9,840
Lot Size
6,497
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
6
APN
5075-008-006

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.
$611
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
37
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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