724 S Mariposa Avenue
Los Angeles, CA 90005
24200 sqft | 40 beds | 0.19 acres | #24448161
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.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$5,000,000
- MLS #24448161
- MLS #24448161
- Cost4500000
- Acres0.1857
- Square Feet24200
- Year Built1930
- Bedrooms40
- Parking Spaces20
- Stories4
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Adam Zunder (#CLW-C106558)
Listing Office: Iconic Investments (#CLW-X80599)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
