724 South Mariposa Avenue
$4,500,000
40
40
24,200
24,200
$186
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 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.
- Listed by Adam Zunder • DRE #01821053 • Brokerage DRE #01229985 • Iconic Investments
Property Details for 724 South Mariposa Avenue
Zoning
LAR5
Parcel Number5094006007
Total Units40.0
Living Area24200
Source Living AreaAssessor
AreaMid-Wilshire (C17)
Vacancy Rate0%
Lot Size Area8087
LISTING UPDATED: 12/09/2024 11:23 AM
Property Details for 724 South Mariposa Avenue
Status | Active |
---|---|
MLS # | 24-448161 |
Days on Market | 76 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1930 |
Lot Size | 0.19 AC / 8,087 SF |
County | Los 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
Property History for 724 South Mariposa Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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 | ||
Rfk Community Schools-New Open World Academy K-12 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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