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NEW PRICE 514 S Mariposa 514 S Mariposa Ave 19 Unit Apartment Building $3,700,000 ($194,737/Unit) 6.02% Cap Rate Los Angeles, CA 90020
Investment Highlights
- 13 of 19 units renovated with high-end finishes
- Upgrades include quartz countertops, stainless appliances, split-system A/C, and custom tile.
- 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: Legacy units leasing approximately $350-$1,100 below market, with a proven renovation template already delivering results in 63% of units.
Renovated Mid-Century Asset: 12 of 19 units fully renovated with high-end finishes.
High Walk Score of 94: “Walker’s Paradise” designation with immediate access to shopping, transit, and Koreatown nightlife. Core Koreatown asset with immediate access to Metro Purple/Red Line, the 10 and 101 freeways, and Koreatown's premier dining corridor. This quiet residential pocket is blocks from 6th St and Koreatown’s commercial core.
Renovated units feature quartz countertops, stainless appliances, split-system A/C, and custom tile. Separately metered gas and electric. Gated parking.
Strong Submarket Fundamentals: Koreatown absorbed 910 units over the past 12 months. 1 & 2 Star vacancy holds at 5.0% with 88% renter households. Rents run 18% below the metro average, signaling further growth runway.
Provides plenty of rare off-street parking advantage in a dense, transit-friendly urban core.
LAR4 Zoning: Adds long-term development or repositioning optionality in a rapidly evolving corridor.
Renovated Mid-Century Asset: 12 of 19 units fully renovated with high-end finishes.
High Walk Score of 94: “Walker’s Paradise” designation with immediate access to shopping, transit, and Koreatown nightlife. Core Koreatown asset with immediate access to Metro Purple/Red Line, the 10 and 101 freeways, and Koreatown's premier dining corridor. This quiet residential pocket is blocks from 6th St and Koreatown’s commercial core.
Renovated units feature quartz countertops, stainless appliances, split-system A/C, and custom tile. Separately metered gas and electric. Gated parking.
Strong Submarket Fundamentals: Koreatown absorbed 910 units over the past 12 months. 1 & 2 Star vacancy holds at 5.0% with 88% renter households. Rents run 18% below the metro average, signaling further growth runway.
Provides plenty of rare off-street parking advantage in a dense, transit-friendly urban core.
LAR4 Zoning: Adds long-term development or repositioning optionality in a rapidly evolving corridor.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$396,030
|
$28.85
|
| Other Income |
$8,932
|
$0.65
|
| Vacancy Loss |
$12,149
|
$0.89
|
| Effective Gross Income |
$392,813
|
$28.62
|
| Taxes |
$46,293
|
$3.37
|
| Operating Expenses |
$123,863
|
$9.02
|
| Total Expenses |
$170,156
|
$12.40
|
| Net Operating Income |
$222,657
|
$16.22
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $396,030 |
| Annual Per SF | $28.85 |
| Other Income | |
|---|---|
| Annual | $8,932 |
| Annual Per SF | $0.65 |
| Vacancy Loss | |
|---|---|
| Annual | $12,149 |
| Annual Per SF | $0.89 |
| Effective Gross Income | |
|---|---|
| Annual | $392,813 |
| Annual Per SF | $28.62 |
| Taxes | |
|---|---|
| Annual | $46,293 |
| Annual Per SF | $3.37 |
| Operating Expenses | |
|---|---|
| Annual | $123,863 |
| Annual Per SF | $9.02 |
| Total Expenses | |
|---|---|
| Annual | $170,156 |
| Annual Per SF | $12.40 |
| Net Operating Income | |
|---|---|
| Annual | $222,657 |
| Annual Per SF | $16.22 |
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 | 6.02% | Average Occupancy | 95% |
| No. Units | 19 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2018 |
| Property Subtype | Apartment | Parking Ratio | 1.24/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | LAR4 | ||
| Price | $3,700,000 |
| Price Per Unit | $194,737 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| 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
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