Active
724 S Mariposa Ave
Los Angeles CA, 90005
$4,500,000
$185.95 per sqft
Active
40 Beds
40 Baths
24,200 sqft
Multi-family
Built in 1930
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.
24-448161
MLSⓇ ID
October 2, 2024
Listed
December 9, 2024
Updated
Map
724 S Mariposa Ave
Los Angeles CA, 90005
Interior Features
Total Stories
4
Bedrooms
40
Total Bathrooms
40
Appliances
None
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.19 Acres
Other Property Details
Area Name
Mid-Wilshire
Days on Market
68
Garage
Yes
Garage Spaces
20
Parking
Controlled Entrance, Community Garage
Parking Total
20
View
No
County
Los Angeles
Pool
No
Zoning
LAR5
Listing History
Date | Event | Price |
|---|---|---|
12/9/2024 | Price change | $4,500,000 -10% |
Listed by Adam Zunder with Iconic Investments
Listing Contact: 747-214-0470
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Heidi Cotton | CA DRE# 01947301 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 12/9/2024
