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    1006 N Mariposa Ave

    Los Angeles, CA 90029
    • $6,800,000
    • STATUS: Active
    • ON SITE: 9 days
    • ID#: 21-760712
    $6,800,000
    • 28
      BEDS
    • 0.61
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 16,646
      SQFT
    • $409
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1934
    County:
    Area:

    School Ratings & Info

    Description

    1006 N. Mariposa, Mariposa Gardens, is a gated two-story courtyard style complex with ample parking in the front and rear of the property. The property was originally built in 1934 over a raised foundation. The single-story units in the front have individual hot water heaters and some of the units have front and back doors. Brand new pitched roof. There is currently one non-conforming unit which could be replaced with two 1-bedroom (application pending). There is on-site laundry with leased machines. The property has 33 parking spaces which currently generates $725 per month. Additional parking can be added by reducing the grassy courtyard. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-23T23:42:45.767. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.brandiprattrealestate.com/homes/119299654
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    1006 N Mariposa Ave Los Angeles, CA 90029

    • Price: $6,800,000
    • Status: Active
    • ID#: 21-760712
    28
    Beds
    0
    Baths
    0
    ½ Baths
    0.61
    Acres
    16,646
    SQFT
    $409
    $/SQFT
    1934
    Built
    Neighborhood:
    Hollywood
    County:
    Los Angeles
    Area:
    Hollywood
    Property Description
    1006 N. Mariposa, Mariposa Gardens, is a gated two-story courtyard style complex with ample parking in the front and rear of the property. The property was originally built in 1934 over a raised foundation. The single-story units in the front have individual hot water heaters and some of the units have front and back doors. Brand new pitched roof. There is currently one non-conforming unit which could be replaced with two 1-bedroom (application pending). There is on-site laundry with leased machines. The property has 33 parking spaces which currently generates $725 per month. Additional parking can be added by reducing the grassy courtyard. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.
    Exterior Features

    Lot Size Area 26528 Other Structures None Parking Garage Uncovered Total Parking 33

    Interior Features

    Baths Total 25.00 Cooling Other Equipment Range/OvenMicrowave Heating Other

    Property Features

    Assessed Total Value 3186393 Gross Income 484329 Gross Operating Income 469799 Like Units1 20 Like Units2 4 Net Operating Income 272190.00 Number Of Buildings 1 Number Of Units 24 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 197609 Type Of Units S1+12+1 Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of David Kaufman DRE#01217537 of David Ballin Kaufman.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-23T23:42:45.767. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    eXp Realty of California, Inc.
    2603 Camino Ramon, Suite 200
    San Ramon CA, 94583