730 N Mariposa Ave
Los Angeles, CA 90029
Multifamily Property For Sale · 28 Units

JUST REDUCED $200K! The subject property is a 28 unit apartment building located in the dense rental market of East Hollywood. There is an attractive unit mix of twenty one One Bedroom/One Bath Units, Six Two Bedroom/One Bath Units and One Two Bedroom/One and Three Quarter Bath Units. The property was built in 1963 and is subject to rent control. Currently managed by the owner, the property has been in the family for over 39 years. With a Walk Score of 83, the residents of the property enjoy close proximity to LA City College, Metro Rail Station and 101 freeway access,. Coupled with the surrounding popular neighborhoods of Silverlake, Los Feliz Koretown and Hollywood, this pocket of East Hollywood is positioned well for growth. The rents at the subject property are significantly below the market. With the implementation of an exterior renovation program and remodeling of units as they turn, a new owner should be able to achieve an attractive increase in income at the property. In addition to the high demand location, the property offer residents a pool, courtyard, covered parking and an on-site laundry facility. This a great opportunity for a value add investor who is looking for a property with upside in rents and in a location that seems poised for growth.