724 South Mariposa Avenue

Los Angeles, CA 90010

$5,000,000
Price
40
Beds
40
Baths
24,200 Sq. Ft.
$207 / Sq. Ft.
24,200
Sq. Ft.
$207
per Sq. Ft.

Description

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...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 6.40% and a 8.05 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.
  1. Listed by Adam Zunder • DRE #01821053 • Brokerage DRE #01229985 • Iconic Investments

Property Details for 724 South Mariposa Avenue

Zoning
LAR5
Parcel Number
5094006007
Total Units
40.0
Living Area
24200
Source Living Area
Assessor
Area
Mid-Wilshire (C17)
Vacancy Rate
0%
Lot Size Area
8087
LISTING UPDATED: 10/10/2024 12:01 AM

Property Details for 724 South Mariposa Avenue

StatusActive
MLS #24-448161
Days on Market44
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1930
Lot Size0.19 AC / 8,087 SF
CountyLos Angeles County

Building Information for 724 South Mariposa Avenue

Stories4Residences-Year Built1930Building Size-Lot Size0.19 AC / 8,087 SF

Property Information for 724 South Mariposa Avenue

Community / Development
Community / Development
  • Number Of Units: 40
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 4
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $621,354
  • Net Operating Income: $320,037.00
  • Gross Income: $621,354
  • Gross Rent Multiplier: $8.05
  • Total Annual Expense: 306016
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1857
  • Lot Size Square Feet: 8087
Parking Details
Parking Details
  • Parking Garage: Controlled Entrance, Community Garage
  • Total Parking: 20
  • Garage Spaces Total: 20
  • Parking Features: Controlled Entrance, Community Structure
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,081.00
  • Unit Actual Rent: $8,648.00
  • Unit Projected Rent: $1,300.00
  • Like Units: 8
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,304.00
  • Unit Actual Rent: $34,800.00
  • Unit Projected Rent: $1,450.00
  • Like Units: 24
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,476.00
  • Unit Actual Rent: $11,808.00
  • Unit Projected Rent: $1,695.00
  • Like Units: 8
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $666,431.00
  • Assessed Improvement Percent: 44.4
  • Assessed Land Value: $834,705.00
  • Assessed Land Percent: 55.6
  • Assessed Total Value: $1,501,136.00

Property History for 724 South Mariposa Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 724 South Mariposa Avenue

Taxable ValueLand$851,399Additions$692,534Total$1,543,933
Tax Record2024$21,390 ($1,782 / month)
Home Facts
Total Finished SqFt24,200 SqFtAbove Grade Finished SqFt24,200 SqFtLot Size8,085 SqFtStyleMulti-Family Res (5+ Units)Year Built1930ZoningLAR5CountyLOS ANGELESAPN5094-006-007

Schools near 724 South Mariposa Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - K to 12
Public - 6 to 8
Rating
School
Distance
UCLA Community School
PublicK to 12

Young Oak Kim Academy
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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724 South Mariposa Avenue is a multi-family home for sale in Los Angeles, CA 90010. This property was listed for sale on October 2, 2024 by Iconic Investments, it's currently listed at $5,000,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Rfk Community Schools - Ambassador School - Global Education, UCLA Community School and Rfk Community Schools-New Open World Academy K-12. 724 South Mariposa Avenue is a 40-bed, 40-bath, 24,200 sqft multi-family home built in 1930.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Iconic Investments, Adam Zunder, DRE #01821053

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.