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520 S MARIPOSA AVE LOS ANGELES CA 90020 | MLS 19-432616 - Outland and Associates Real Estate

520 S MARIPOSA AVE LOS ANGELES CA 90020 | MLS 19-432616

520 S MARIPOSA AVE
LOS ANGELES, CA, 90020
$9,500,000
6 Beds
48 Baths
28,472 SqFt
0.21 Acres
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The elegant and spacious 48-Unit apartment building of 520 S Mariposa Avenue has been well-maintained, owned and operated by the same owner for the last 24 years. This property offers sustainable investment grade upside with great asset security for any investor looking to own in the dense rental market of Koreatown. The property itself sits in a Qualified Opportunity Zone. Allowing for an investor with holding plans to take advantage of the tax break implications. The upside can be seen with the incredible marketable location and the property offering any investor a great sum of wealth accumulation through asset appreciation. This upside, along with the area’s continuous growth in rent and developments, makes this a fantastic opportunity in the heart of Koreatown. With a Market Cap Rate of 6.82% and a Market GRM of 9.92, this investment opportunity is a great way to achieve healthy current cash flow and the opportunity to achieve over 30% rental upside.

Property Details

Price:
$9,500,000
MLS #:
19-432616
Status:
Active
Beds:
6
Baths:
48.00
Address:
520 S MARIPOSA AVE
Type:
Residential Income
City:
LOS ANGELES
Listed Date:
Feb 8, 2019 (9 days)
State:
CA
Square Ft (approx):
28,472
ZIP:
90020
Lot Size:
9,000 sqft / 0.21 acres (approx)
Year Built:
1928

Schools

Interior

Cooling
Other
Heating
Other

Exterior

ParkingGarage
None

Financial

AssessedImprovementValue
$484,192
AssessedLandValue
$302,902

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et Out There, A Simply Outgoing Approach to Life. James Outland Jr. is one of those rare people who simply has an outgoing approach to life. No matter the activity… from dune buggy riding to skydiving to motorcycling to riding the local Pismo Beach waves… James Outland Jr. approaches life with a “just get out there and do it” kind of attitude. A zest for Life. James’ zest for life is obviously apparent in his many exciting hobbies. In his spare time, he loves riding dune buggies or his…

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Courtesy of David Harrington at Matthews Real Estate Investment Services. The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2019-02-17.
520 S MARIPOSA AVE
LOS ANGELES, CA