22
See all 22 photos
$1,980,000
Est. payment /mo
27 Beds
27 Baths
Price Dropped by $300K
101 S. Mariposa Ave Los Angeles, CA 90004
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25091361
Bedrooms 27
Property Sub-Type Res Income 2-4 Units
Property Description
Located in the vibrant Koreatown community of Los Angeles, 101 S. Mariposa Avenue offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features a charming single-story bungalow with four bedrooms, two bathrooms, a welcoming front deck, and ample driveway parking. The approved plans allow for the construction of a brand-new, four-story contemporary co-living development. The new project will feature 27 private studio suites, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 8,656 square feet on a 4,796.5 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from USC, UCLA, LACC, and LMU, the property benefits from a strong demand for rental housing, making it ideal for student housing or co-living operations. Average monthly rents for studios in Koreatown range from $1,350 to $1,500, supported by a high occupancy rate of 92%. The estimated annual rental income is approximately $437,400 or higher, with projected investor returns between 9.5% and 11.4%. Importantly, this property is located in a non-rent-controlled area, providing greater flexibility and advantage for rental income growth compared to rent-controlled zones. Rental rates are forecasted to increase by approximately 5% annually from 2026 through 2030, offering significant long-term growth potential. Furthermore, this location is poised to benefit from upcoming global e
Location
State CA
County Los Angeles
Zoning Builder
Direction From Wilshire Blvd, head south on Mariposa Ave. The property is located just south of 1st Street on the west side of Mariposa Av
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 4
Level or Stories 4
Others
Tax ID 5518006003
Listed by Wei Chang AMERIWAY REALTY