1018 N Mariposa Ave­Los Angeles, CA 90029 United States

Description:

1018 N. Mariposa is adjacent to1006 N. Mariposa, totaling .97 acres of flat land in the heart of Los Angeles. This 24-unit two story walk-up complex was originally built in 1958 on a large 14,462 Sq. Ft. lot. The building has a newer pitched roof, is separately metered and has had many upgrades including window replacement in about half the units as well as air conditioning in some. There are 15 parking spaces and on-site laundry room. Steps away from Santa Monica Boulevard and walking distance to the Metro. This property is part of a 10-property portfolio totaling 186 units. Most of the properties are in the 90029 & 90006 zip codes of Los Angeles, CA. These well-located properties offer convenient access to Downtown Los Angeles & Mid-Wilshire and can be managed efficiently due to their proximity to one another. The properties are well maintained and have had many exterior and interior improvements. There is still +28% upside to be realized as units turn and the opportunity to construct two additional units already permitted at 1006 Mariposa. This infill multifamily portfolio is in an improving submarket in LA and gives an investor diversification amongst 12 different APNs and proven upside through continued unit turns.