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,… Read More 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. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Mark Ventre 310-425-9838
Listing Snapshot
Days Online
99
Last Updated
Square Ft.
16,736
Lot Size
0.35 Acres
Year Built
1956
MLS Number
26654809
Additional Details
Building
Built in 1956, 1 building, 2 stories, Construction Materials: Stucco, WoodSiding
Heating
WallFurnace
Home Owner's Association
Association Fee: $0
Laundry
CommonArea
Lot
0.3461 acres, CornerLot
Parking
19 total parking spaces
Security Features
SecurityGate
Taxes
Parcel Number: 5502014008, Zoning: LAR4
Utilities
Standard
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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