4 Beds
2 Baths
1,890 SqFt
4 Beds
2 Baths
1,890 SqFt
Key Details
Property Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 1,890 sqft
Price per Sqft $1,206
MLS Listing ID CV25085045
Style All Other Attached
Bedrooms 4
Full Baths 2
HOA Y/N No
Year Built 1910
Lot Size 4,796 Sqft
Acres 0.1101
Lot Dimensions 81.67 ft x 28 f
Property Description
Located in the vibrant Koreatown community of Los Angeles, 101 S. Mariposa Avenue offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features a charming single-story bungalow with four bedrooms, two bathrooms, a welcoming front deck, and ample driveway parking. The approved plans allow for the construction of a brand-new, four-story contemporary co-living development. The new project will feature 27 private studio suites, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 8,656 square feet on a 4,796.5 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and compliance with the latest seismic and building codes. Situated just minutes from USC, UCLA, LACC, and LMU, the property benefits from a strong demand for rental housing, making it ideal for student housing or co-living operations. Average monthly rents for studios in Koreatown range from $1,350 to $1,500, supported by a high occupancy rate of 92%. The estimated annual rental income is approximately $437,400 or higher, with projected investor returns between 9.5% and 11.4%. Rental rates are forecasted to increase by approximately 5% annually from 2026 through 2030, offering significant long-term growth potential. This location is poised to benefit from upcoming global events such as the 2026 FIFA World Cup and the 2028 Los Angeles Summer Olympics, which are expected to further boost real estate values across the city. 101 S. Mariposa Avenue presents an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
Location
State CA
County Los Angeles
Area Los Angeles (90004)
Zoning LAR4
Interior
Interior Features Unfurnished
Flooring Wood
Equipment Gas Oven
Appliance Gas Oven
Laundry Outside
Exterior
Exterior Feature Frame
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Building
Lot Description Curbs
Story 2
Lot Size Range 4000-7499 SF
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories 2 Story
Others
Monthly Total Fees $28
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Special Listing Condition Standard
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REALTOR® | Lic# CA DRE 01838753