101 S. Mariposa Ave
Los Angeles, CA 90004
$2,280,000
For Sale
- 0
- 8,112 sq ft
Local Information
About this home
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 greate
Home Highlights
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$476
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1 week ago
Home Details for 101, S. Mariposa Ave
Interior Features
Interior Features
- Laundry: Other
Exterior Features
Exterior Home Features
- Exterior Details: Other
Parking & Garage
- Garage: No Garage
Pool & Views
- Private Pool: No Private Pool
Water & Sewer
- Water Source: Public
- Sewer: Public Sewer
Property Information
Property Information
- Parcel Number: 5518006003
- Lot Size (sq ft): 4,796
Property Type & Style
- Type: Residential Income
- Subtype: OTHER
Year Built
- Year: 1910
Location
- Directions: From Wilshire Blvd, head south on Mariposa Ave. Th
Listing Attribution
- Agent Name: Wei Chang
- Brokerage: AMERIWAY REALTY
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