Active

724 S Mariposa Ave

Los Angeles CA, 90005

$4,500,000


$185.95 per sqft

Active

40 Beds

40 Baths

24,200 sqft

Multi-family

Built in 1930

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 7.11% and a 7.24 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.

24-448161

MLS ID

October 2, 2024

Listed

December 9, 2024

Updated

Map

724 S Mariposa Ave
Los Angeles CA, 90005

Interior Features

Total Stories

4


Bedrooms

40


Total Bathrooms

40


Appliances

None


Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Wall

Exterior/Building Features

Lot Size

0.19 Acres

Other Property Details

Area Name

Mid-Wilshire


Days on Market

68


Garage

Yes


Garage Spaces

20


Parking

Controlled Entrance, Community Garage


Parking Total

20


View

No


County

Los Angeles


Pool

No


Zoning

LAR5

Listing History

Date

Event

Price

12/9/2024

Price change

$4,500,000

-10%

Listed by Adam Zunder with Iconic Investments
Listing Contact: 747-214-0470 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Arthur Kumasian | CA DRE# 02209416 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 12/9/2024

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