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16,736 SqFt
$ 4,795,000
Est. payment | /mo
16,736 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Pending
Purchase Type For Sale
Square Footage 16,736 sqft
Price per Sqft $286
MLS Listing ID CL26654809
HOA Y/N No
Year Built 1956
Lot Size 0.346 Acres
Acres 0.3461
Property Sub-Type Comm Ind For Sale
Property Description
THE OPPORTUNITY: 400 S Mariposa Ave offers a chance to acquire a 25-unit multifamily asset on a corner lot in the heart of Koreatown, one of Los Angeles' most resilient and renter-driven submarkets, where demand continues to outpace even robust new supply. The 13 renovated units are achieving market-making rents, while the remaining 12 units presents approx. 30% upside through a proven renovation and turnover strategy. The asset is located on the corner of Mariposa Ave and 4th Street, near Koreatown's densest commercial corridor and benefits from approx. 19 parking spaces and separately metered gas and electric utilities. Building system upgrades and strong current collections add to the asset's operational appeal. THE ASSET: Originally built in 1956, 400 S Mariposa is a well-maintained, 25-unit mid-century apartment building situated on a quiet residential corner lot. The property spans 16,736 square feet across a 15,070 SF double lot, zoned LAR4. Thirteen units have been upgraded with modern interiors, featuring new flooring, renovated kitchens and bathrooms, and contemporary finishes. The remaining units are in clean, classic condition and offer immediate value-add potential through cosmetic renovations. Current operations are stable, with strong collections and ample room for rent growth as units turn. The property offers approximately 24 on-site parking and is separately metered for gas and electric, with master-metered water and sewer. Major system upgrades, including plumbing, electrical, and windows, and seismic retrofit have already been completed, minimizing near-term capital expenditure needs and improving operational efficiency.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Exterior
Total Parking Spaces 19
Building
New Construction No
Others
Tax ID 5502014008
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Listed by Mark Ventre • Lyon Stahl Investment Real Estate, Inc.
Nearby Locations
9030 BRENTWOOD BLVD, BRENTWOOD, California, 94513, United States