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.