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$3,500,000
Est. payment /mo
19 Beds
18 Baths
14,257 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 14,257 sqft
Price per Sqft $245
MLS Listing ID 26986935
Bedrooms 19
HOA Y/N No
Year Built 1956
Lot Size 0.344 Acres
Property Description
We are pleased to present 228 S. Mariposa Avenue, an 18-unitmultifamily investment opportunity situated in the highly walkable Koreatown neighborhood of Los Angeles. Originally constructed in 1956, the property comprises approximately 14,257 square feet of building area on a substantial 15,000 square foot lot. The property offers an attractive and highly rentable unit mix consisting of three (3) (two-bedroom + one bathroom) units, thirteen (13) (one bedroom + one bathroom) units, and two (2) (studio) units. One of the studio units, Unit #18, is a permitted attached accessory dwelling unit completed in 2024. Many of the apartment interiors have been beautifully remodeled with a combination of contemporary finishes and spacious, functional floor plans. Select renovated units feature updated kitchens with modern cabinetry, upgraded countertops, tile backsplashes, stainless steel appliances, contemporary flooring, recessed lighting, ceiling fans, and refreshed bathrooms. Large windows provide abundant natural light, while separate dining areas, generous living spaces, and ample storage further enhance the units' appeal. Ownership has also completed a series of capital improvements throughout the property. Notable upgrades include extensive Type L copper plumbing upgrades completed over multiple years, window improvements, an upgraded electrical panel, a newer water heater, partial sewer line improvements, retrofit work, exterior painting, asphalt improvements, updated laundry equipment, roofing improvements, and a new gas valve. These improvements, together with the renovated interiors and permitted ADU, provide a strong physical foundation for continued ownership and future operations. The property offers approximately 14 parking spaces, including 12 covered spaces in the rear carport area and one tandem space along the north side of the property. The size and configuration of the rear portion of the lot may also provide an investor with the opportunity to explore the development of additional accessory dwelling units, potentially above the existing carports (Buyer to Verify).
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR4
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Carport, Uncovered
Total Parking Spaces 14
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5518008018
Special Listing Condition Standard
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Listed by Derrick Vartanian Lyon Stahl Investment Real Estate, Inc. #01816119
Nearby Locations
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