724 S Mariposa Avenue, Los Angeles CA, 90005

Active

724 S Mariposa Avenue

Los Angeles CA, 90005

$5,000,000

$206.61 per sqft

Active

40 Beds

40 Baths

24,200 sqft

Residential

Built in 1930

Listed by Adam Zunder with Iconic Investments 747-214-0470

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.

24448161

MLSⓇ ID

October 2, 2024

Listed

October 17, 2024

Updated

Map

724 S Mariposa Avenue
Los Angeles CA, 90005

Interior Features

Total Stories: 4
Bedrooms: 40
Total Bathrooms: 40
Fireplace: No
Cooling: No
Cooling Description: None
Heating: Yes
Heating Description: Wall Furnace

Exterior/Building Features

Lot Size: 0.19 Acres

Other Property Details

Area Name: C17 - Mid-Wilshire
Days on Market: 8
Garage: Yes
Garage Spaces: 20
Parking: Controlled Entrance, Community Structure
Parking Total: 20
View: No
County: Los Angeles
Pool: No
Zoning: LAR5

Listing Contact: 747-444-3300

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 10/17/2024 at 2:38 PM UTC