$4,500,000
- Beds
- 40
- sq ft
- 24,200
724 S Mariposa Ave, Los Angeles, CA 90005
724 S Mariposa Ave
Los Angeles, CA 90005
- 82 days on market
- Price drop $500,000↓
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.
Details
Property type
Lot size
8,087 sq ft
Price per sq ft
$186
Year built
1930
HOA
No
Price History
12/10/2024
CLAW #24448161
Price change
$4,500,000
-10%
10/02/2024
CLAW #24448161
Listed
$5,000,000
Schools & Community
Neighborhood:
Koreatown
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 12/23/2024 at 3:20 PM
Listing updated: 12/10/2024 at 9:30 AM
Listed by: Adam Zunder, Iconic Investments Phone #: (747) 444-3300
MLS: CLAW #24448161
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