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Listed by Wei Chang • AMERIWAY REALTY
$ 1,890,000
Est. payment /mo
Price Dropped by $90K
101 S. Mariposa Ave Los Angeles, CA 90004
4,796 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRCV25091361
Year Built 1910
Lot Size 4,796 Sqft
Property Sub-Type Duplex
Source California Regional MLS
Property Description
Located in the vibrant Koreatown community of Los Angeles, 101 S. Mariposa Avenue offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features a charming single-story bungalow with four bedrooms, two bathrooms, a welcoming front deck, and ample driveway parking. The approved plans allow for the construction of a brand-new, four-story contemporary co-living development. The new project will feature 27 private studio suites, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 8,656 square feet on a 4,796.5 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and full compliance with the latest seismic and building codes. Situated just minutes from USC, UCLA, LACC, and LMU, the property benefits from a strong demand for rental housing, making it ideal for student housing or co-living operations. Similar co-living suite prices in Koreatown typically range from $1,300 to $1,500 per month, providing a compelling income model. The estimated annual rental income is approximately $437,400 or higher, with projected investor returns between 9.5% and 11.4%. Importantly, this property is located in a non-rent-controlled area, pr
Location
State CA
County Los Angeles
Area Krea - Koreatown
Interior
Laundry Other
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5518006003
Special Listing Condition Not Applicable
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