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Listed by Wei Chang • AMERIWAY REALTY
$ 2,280,000
Est. payment | /mo
4 Beds
2 Baths
1,890 SqFt
$ 2,280,000
Est. payment | /mo
4 Beds
2 Baths
1,890 SqFt
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,890 sqft
Price per Sqft $1,206
MLS Listing ID CRCV25085045
Bedrooms 4
Full Baths 2
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1910
Lot Size 4,796 Sqft
Property Sub-Type Detached
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 full 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%. Importantly, this property is located in a non-rent-controlled area, providing greate
Location
State CA
County Los Angeles
Interior
Heating None
Cooling None
Flooring Wood
Fireplaces Type None
Fireplace No
Laundry Other
Exterior
Pool None
View None
Handicap Access None
Private Pool false
Building
Story 2
Water Public
Architectural Style Traditional
Schools
School District Los Angeles Unified
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