724 S Mariposa Ave Active

Los Angeles,CA 90005

$ 5000000

40 Beds

40 Baths

24200 SqFt


Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 24,200 sqft

Price per Sqft $206

MLS Listing ID 24-448161

Bedrooms 40

Year Built 1930

Lot Size 8,087 Sqft

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 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.

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAR5

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment None

Exterior

Garage Controlled Entrance, Community Garage

Garage Spaces 20.0

Building

Story 4

Others

Special Listing Condition Standard

View More
Favorite Go Tour