Homes for sale - 724 S Mariposa AVE, Los Angeles, CA 90005

Brandon Rivinius

REALTOR® | Lic# 01891904 | 01968416

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$ 4,325,000

$ 4,500,000 3.9%

Est. payment | -/mo

40 Beds

40 Baths

24,200 SqFt

$ 4,325,000

$ 4,500,000 3.9%

Est. payment | -/mo

40 Beds

40 Baths

24,200 SqFt

Key Details

Sold Price $4,325,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 24,200 sqft

Price per Sqft $178

MLS Listing ID 24448161

Sold Date 02/12/25

Bedrooms 40

HOA Y/N No

Year Built 1930

Lot Size 8,089 Sqft

Property 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 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.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR5

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Controlled Entrance, Community Structure

Garage Spaces 20.0

Garage Description 20.0

Total Parking Spaces 20

Building

Story 4

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5094006007

Special Listing Condition Standard

Listed by Adam Zunder • Iconic Investments
Bought with Adam Zunder • Iconic Investments

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Brandon Rivinius

REALTOR® | Lic# 01891904 | 01968416

brandonr@realtyagent.com

+1(909) 800-6755

11201 California St Suite E, Redlands, CA, 92373

724 S Mariposa AVE Los Angeles, CA 90005

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Key Details

Location

Interior

Exterior

Building

Others

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724 S Mariposa AVE