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 6.40% and a 8.05 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
Price:
$5,000,000
MLS #:
24448161
Status:
Active
Baths:
0
Address:
724 S Mariposa Avenue
Type:
Residential Income
Neighborhood:
c17midwilshire
City:
Los Angeles
Listed Date:
Oct 2, 2024
State:
CA
ZIP:
90005
Lot Size:
8,087 sqft / 0.19 acres (approx)
Year Built:
1930
See this Listing
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Schools
Interior
Cooling
None
Heating
Wall Furnace
Exterior
Garage Spaces
20.00
Parking Features
Controlled Entrance, Community Structure
Parking Spots
20.00
Stories Total
4
Financial
Map
Community
- Address724 S Mariposa Avenue Los Angeles CA
- AreaC17 – Mid-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90005
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Courtesy of Iconic Investments. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.724 S Mariposa Avenue
Los Angeles, CA
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