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520 S Mariposa Ave, Los Angeles, CA 90020
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520 S Mariposa Ave Los Angeles, CA 90020

$9,375,000 Sold Price as of 08/16/2019
  • 6 Beds
  • 48 Baths
  • 28,472 Sq.Ft.
Sold
$9,375,000 Sold Price as of 08/16/2019 Refinance Your Mortgage
Map preview of 520 S Mariposa Ave, Los Angeles, CA 90020

Property Overview: 520 S Mariposa Ave Los Angeles, CA has 6 bedrooms, 48 bathrooms, 28,472 living square feet and 9,000 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The elegant and spacious 48-Unit apartment building of 520 S Mariposa Avenue has been well-maintained, owned and operated by the same owner for the last 24 years. This property offers sustainable investment grade upside with great asset security for any investor looking to own in the dense rental market of Koreatown. The property itself sits in a Qualified Opportunity Zone. Allowing for an investor with holding plans to take advantage of the tax break implications. The upside can be seen with the incredible marketable location and the property offering any investor a great sum of wealth accumulation through asset appreciation. This upside, along with the area's continuous growth in rent and developments, makes this a fantastic opportunity in the heart of Koreatown. With a Market Cap Rate of 6.82% and a Market GRM of 9.92, this investment opportunity is a great way to achieve healthy current cash flow and the opportunity to achieve over 30% rental upside.

Listed by David Harrington | BRE #01320460 | Matthews Real Estate Investmen
Last checked: 10 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 38

Home details

Lot Sq. Ft
9,000
HOA Dues
$0/mo
Year built
1928
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19432616
City
Los Angeles
County
Los Angeles
Time on Site
1206 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 48
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 36
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,162
  • Total Rent: $41,832
  • Pro Forma/Market Rent: $62,400
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $9,600
  • Pro Forma/Market Rent: $9,600
Unit Breakdown 3
  • # of Units: 5
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,523
  • Total Rent: $10,500
  • Pro Forma/Market Rent: $7,616
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,100
  • Total Rent: $2,100
  • Pro Forma/Market Rent: $2,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.63%
  • Gross Rent Multiplier: 12.95
  • Gross Scheduled Income: --
  • Net Operating Income: $439,377
  • Gross Operating Income: $711,763
  • Improvements Total: $484,192
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 520 S Mariposa Ave

Interior Features
Cooling Information
  • Has Cooling
  • See Remarks
Laundry Information
  • Has Laundry
  • See Remarks
Lot Details / Garage and Parking
Property Information
  • Total # of Units: 48
  • Parcel Number: 5502019004
Location / Neighborhood
Location Information
  • Directions: Located on 6th Street and Mariposa Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 520 S Mariposa Ave

Last sold for $9,375,000 on August 16th, 2019

  • November, 2019

  • Nov 12, 2019

    Date

    Sold

    CRMLS: 19432616

    $9,375,000

    Price

  • Mar 19, 2019

    Date

    Active Under Contract

    CRMLS: 19432616

    $9,500,000

    Price

  • Feb 8, 2019

    Date

    Active

    CRMLS: 19432616

    $9,500,000

    Price

  • August, 2019

  • Aug 16, 2019

    Date

    Sold (Public Records)

    Public Records

    $9,375,000

    Price

  • June, 1998

  • Jun 11, 1998

    Date

    Sold (Public Records)

    Public Records

    $400,000

    Price

Show More

Tax History for 520 S Mariposa Ave

Assessed Value (2020): $9,395,200
Year Land Value Improved Value Assessed Value
2020 $8,000,000 $1,395,200 $9,395,200

Home Value Compared to the Market

This property vs the competition

520 S Mariposa Ave sold on August 16, 2019 for 698.32% 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 $333.66 per/sqft which puts the price per square foot 55.81% lower than the current median sale per square foot for the city of Los Angeles.

About 520 S Mariposa Ave

Detailed summary of property

520 S Mariposa Ave is a multi family that recently sold in Los Angeles, CA 90020. This multi family property offered 6 bedrooms, 48 bathrooms, roughly 28,472 living square feet, and sits on an approximately 9,000 square foot lot. 520 S Mariposa Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $9,375,000. 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 698.32% higher than the current median priced home. Local homes that are currently for sale include 1728 N Sierra Bonita Ave, 14151 Flower St and 887 W 15th St. While the average home in Los Angeles, CA is selling in 96 days, 520 S Mariposa Ave has a days on market of 38 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 520 S Mariposa Ave Los Angeles, CA 90020 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 520 S Mariposa Ave

Public county record property details
Beds
6
Baths
--
Year built
1928
Sq. Ft.
28,472
Lot Size
8,999
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
6,7
APN
5502-019-004

The source for these homes facts are from public records.

90020 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$800,000
Median List Price/Sq.Ft.
$658
Median Sold Price
$520,000
Median Sold Price/Sq.Ft.
$702
Total Inventory
48
Median Sale to List Price %
104%
Avg Days on Market
43
Loan Type
Conventional (36.36%), FHA (0%), VA (0%), Cash (9.09%), Other (18.18%)

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Recently Sold Homes Near 520 S Mariposa Ave

410 S Mariposa Ave, Los Angeles, CA 90020
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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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