724 S Mariposa Avenue, Los Angeles, CA 90005
-
Listed Price :
$4,500,000
-
Beds :
40
-
Baths :
40
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Property Size :
24,200 sqft
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Year Built :
1930
Property Description
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 7.11% and a 7.24 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.
Interior Features
| Bedroom Information |
| Bedrooms |
40 |
| Bathroom Information |
| Bathrooms |
40 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
724 S Mariposa Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90005 |
| County |
Los Angeles |
| Listing Agent |
Adam Zunder DRE #01821053 |
| Courtesy Of |
Iconic Investments |
| List Price |
$4,500,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
24,200 |
| Lot Size |
8,087 |
| Year Built |
1930 |
Listing information courtesy of: Adam Zunder, Iconic Investments. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 10th, 2024 at 5:25 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
