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NEW PRICE 514 S Mariposa 514 S Mariposa Ave 19 Unit Apartment Building $3,700,000 ($194,737/Unit) 6% Cap Rate Los Angeles, CA 90020
Investment Highlights
- 12 of 19 units renovated with high-end finishes
- Quartz countertops, stainless appliances, custom tile, and split-systems
- Blocks from 6th St and Wilshire Blvd amenities
- Repositioned units achieving market making rents
- Over 20% upside in rental income
- "Walkers Paradise" score of 94 on Walkscore.com
Executive Summary
Over 20% Rental Upside. 12 of 19 units fully renovated with high-end finishes. Walk Score of 94 with immediate access to shopping, transit, and Koreatown nightlife. Renovated units feature quartz countertops, stainless appliances, split-system A/C, and custom tile. Separately metered gas and electric. Gated parking. Provides plenty of rare off-street parking advantage in a dense, transit-friendly urban core. LAR4 Zoning.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$395,487
|
$28.82
|
| Other Income |
$8,932
|
$0.65
|
| Vacancy Loss |
$12,133
|
$0.88
|
| Effective Gross Income |
$392,286
|
$28.58
|
| Taxes |
$46,293
|
$3.37
|
| Operating Expenses |
$123,839
|
$9.02
|
| Total Expenses |
$170,132
|
$12.40
|
| Net Operating Income |
$222,154
|
$16.19
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $395,487 |
| Annual Per SF | $28.82 |
| Other Income | |
|---|---|
| Annual | $8,932 |
| Annual Per SF | $0.65 |
| Vacancy Loss | |
|---|---|
| Annual | $12,133 |
| Annual Per SF | $0.88 |
| Effective Gross Income | |
|---|---|
| Annual | $392,286 |
| Annual Per SF | $28.58 |
| Taxes | |
|---|---|
| Annual | $46,293 |
| Annual Per SF | $3.37 |
| Operating Expenses | |
|---|---|
| Annual | $123,839 |
| Annual Per SF | $9.02 |
| Total Expenses | |
|---|---|
| Annual | $170,132 |
| Annual Per SF | $12.40 |
| Net Operating Income | |
|---|---|
| Annual | $222,154 |
| Annual Per SF | $16.19 |
Property Facts
| Price | $3,700,000 | Building Class | C |
| Price Per Unit | $194,737 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 13,725 SF |
| Cap Rate | 6% | Average Occupancy | 95% |
| Gross Rent Multiplier | 9.36 | No. Stories | 2 |
| No. Units | 19 | Year Built/Renovated | 1960/2018 |
| Property Type | Multifamily | Parking Ratio | 1.24/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LAR4 | ||
| Price | $3,700,000 |
| Price Per Unit | $194,737 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 9.36 |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 13,725 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2018 |
| Parking Ratio | 1.24/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR4 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Hardwood Floors
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $1,850 | 500 |
| 1+1 | 17 | $2,188 | 500 |
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5502-019-006 | Total Assessment | $4,551,313 |
| Land Assessment | $3,185,920 | Annual Taxes | $46,293 ($3.37/SF) |
| Improvements Assessment | $1,365,393 | Tax Year | 2025 |
Property Taxes
Parcel Number
5502-019-006
Land Assessment
$3,185,920
Improvements Assessment
$1,365,393
Total Assessment
$4,551,313
Annual Taxes
$46,293 ($3.37/SF)
Tax Year
2025
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NEW PRICE 514 S Mariposa | 514 S Mariposa Ave