Description
200 N Mariposa, a 6-unit value-add investment offering centrally located in the heart of East Hollywood. It is centrally located just minutes away from Larchmont Village, Paramount Studios, Los Angeles City College & MacArthur Park. This HIGH Proforma CAP Rate and Value-Add investment offering provides investors an excellent opportunity to buy in a very strong rental submarket with strong demand.Built in 1961, the property is a garden style two-story bread and butter apartment. It consists of 6 units totaling 4,922 SF of living area on a sizeable 6,006 SF lot. The property is strategically situated on the northeast corner of Mariposa Ave and Council St, and a block south of Beverly Blvd. This high-density location provides strong and consistent demand for rental units. The lot is zoned LAR3, and the buyer may be able to convert the 4 car garages into ADUs (buyer to verify).Each unit is spacious with an estimated size of 820sf/unit (buyer to verify), and the community is fully occupied with mostly long-time tenants that are on month-to-month lease. Rent comparable shows current rental income is 34% below market (buyer to verify). Several units have private patio/balcony.The property offers 10 parking spaces through 4 car garage + 2 open space in the back and 4 tandem spaces in front of the garages (buyer to verify). It is individually metered for electricity and gas and has a security fence/gate. It has a shared laundry room (seller own machines).
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School Ratings & Info
Description
200 N Mariposa, a 6-unit value-add investment offering centrally located in the heart of East Hollywood. It is centrally located just minutes away from Larchmont Village, Paramount Studios, Los Angeles City College & MacArthur Park. This HIGH Proforma CAP Rate and Value-Add investment offering provides investors an excellent opportunity to buy in a very strong rental submarket with strong demand.Built in 1961, the property is a garden style two-story bread and butter apartment. It consists of 6 units totaling 4,922 SF of living area on a sizeable 6,006 SF lot. The property is strategically situated on the northeast corner of Mariposa Ave and Council St, and a block south of Beverly Blvd. This high-density location provides strong and consistent demand for rental units. The lot is zoned LAR3, and the buyer may be able to convert the 4 car garages into ADUs (buyer to verify).Each unit is spacious with an estimated size of 820sf/unit (buyer to verify), and the community is fully occupied with mostly long-time tenants that are on month-to-month lease. Rent comparable shows current rental income is 34% below market (buyer to verify). Several units have private patio/balcony.The property offers 10 parking spaces through 4 car garage + 2 open space in the back and 4 tandem spaces in front of the garages (buyer to verify). It is individually metered for electricity and gas and has a security fence/gate. It has a shared laundry room (seller own machines).
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-24T00:28:43.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.