$2,350,000

515 N Mariposa Avenue, Los Angeles, CA 90004

7,499

Lot Size

8

# Of Units

Listing Agent
Abel Benitez - GIG Real Estate Inc.

Growth Investment Group is proud to present 515 N Mariposa, a value-add investment offering centrally located at the heart of Oakwood, East Hollywood. This HIGH CAP Rate and value-add investment offering provides investors an excellent opportunity to buy with a low down payment and high Cash-on-cash return. The deal offers a current CAP Rate of over 5% and an estimated Proforma CAP Rate close to 7%. It is centrally located in the highly desirable opportunity zone, just minutes away from Larchmont Village, Paramount Studios, Los Angeles City College & MacArthur Park. Built-in 1937 this building consists of 8 exceptional units totaling 4,049 SF (this square footage is excluding the new ADU unit!) of living area on a sizeable 7,499 SF lot. This offering consists of two easily maintained buildings, with a unique unit mix of (three) studios, (four) two-bedroom-one bath, and (one) one-bedroom newly built ADU. The newly built ADU building consists of a new laundry room, storage spaces, and seven carports, which will be able to provide additional income. All units include hardwood flooring, large full kitchens & bathroom with closet space. These units also include wall heating & wall A/C. The majority of leases are close to market rate, making it an exceptional opportunity for an investor looking for a high cash flowing property in a strong submarket. 515 N Mariposa is an easily maintained building, tenants pay for gas, electrical, and trash while the landlord pays for Water & Maintenance. Disclaimer* New ADU construction is ongoing and will be completed within 1-2 Months. 515 N Mariposa can be purchased alongside 210 N Kenmore for a total of 20-Units & 5.13% CAP.

Facts & Features

MLS® # AR22128270
Price $2,350,000
Bathrooms 0.00
Lot Size 7,499
Year Built 1937
Type Residential Income
Status Active
# Of Units 8

Community Information

Address 515 N Mariposa Avenue
Area KREA - Koreatown
City Los Angeles
County Los Angeles
State CA
Zip Code 90004

Amenities

Parking Spaces 7
# of Garages 7
Is Waterfront No
Has Pool No
Pool None

Interior

Has Basement No
Fireplace No
# of Stories 2
Stories Two

Exterior

Lot Description 0-1 Unit/Acre

Additional Information

Date Listed June 14th, 2022
Days on Market 11
Zoning LAR3
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentAbel Benitez
OfficeGIG Real Estate Inc.

Listing Map

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