228 S Mariposa AVE, Los Angeles, CA 90004
228 S Mariposa AVE, Los Angeles, CA 90004
228 S Mariposa AVE, Los Angeles, CA 90004
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,500,000
Est. payment /mo
19 Beds
18 Baths
14,257 SqFt
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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 SCHOOL & BUSINESS

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