724 Mariposa, Los Angeles CA 90005 | $5,000,000
Listing provided courtesy of Adam Zunder of Iconic Investments. Last updated 2024-11-29 09:11:24.000000. Listing information © 2024 SANDICOR.
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.
More Details
0.19 Acres
4 Stories
David Piper
Call or Text: 858-525-5007
DRE# 02021985
