514 Mariposa Avenue

Los Angeles, CA 90020

$4,650,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $378 / sqft

1960

calendar_month Built

Property Description

Habitat Apartments is a 19-unit apartment building located at 514 S. Mariposa Ave in the highly desirable Koreatown neighborhood of Los Angeles. Built in 1960, the property offers renters a high demand unit mix of 2 studios and 17 one-bedroom units across +/- 12,294 square feet of improvements on +/- 11,250 square feet of land. The thoughtfully maintained property features 12 extensively renovated units featuring new hardwood floors, kitchen cabinets, countertops, stainless steel appliances, designer tiles, fixtures, and lighting. The bathrooms have been updated with modern vanities and tile, bathtubs, and hardware. In addition, the units have new vinyl windows and either wall or split system air-conditioning units. New ownership can continue to capture an additional +/- 26% upside in rents through comprehensive renovations of the remaining unit interiors. The charming Mid-Century design, location, and resort-style feel, are major draws for tenants at the Habitat Apartments. Additional drivers leading to the historically high rents being achieved at Habitat include the elevated level of renovations and designer touches. Tenants have proven they are willing to pay more for a premium product which exceeds the level of detail found at competing properties. The building has 19 tuck-under parking spaces and one laundry room. Utilities are separately metered for electricity and gas, and there is one central water heater. Located in the heart of the Koreatown neighborhood, just east of Normandie Ave, and north of Wilshire Blvd, Habitat Apartments offers tenants access to major employment centers and a broad range of entertainment and recreation opportunities, all within a short walk. The Wilshire/Normandie Purple Line is a few-minute walk from Habitat.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type Wall/Window Unit(s)

Listing Information

Address 514 Mariposa Avenue
City Los Angeles
State CA
Zip 90020
County Los Angeles
Listing Agent Adam Zunder DRE#01821053
Courtesy Of Iconic Investments
MLS 24370505
List Price $4,650,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 11,254
Year Built 1960
DOM 8

Exterior Information

Maps

Listing information courtesy of: Adam Zunder, Iconic Investments . *Based on information from the Association of REALTORS/Multiple Listing as of Mar 27th, 2024 at 5:15 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.