Active
514 S Mariposa Ave
Los Angeles CA, 90020
$4,650,000
$378.23 per sqft
Active
17 Beds
12,294 sqft
Residential
Built in 1960
Habitat Apartments is a 19-unit apartment building located at 514 S. Mariposa Ave in the highly desirable Koreatown neighborhood of Los Angeles. Built in 1960, the property offers renters a high demand unit mix of 2 studios and 17 one-bedroom units across +/- 12,294 square feet of improvements on +/- 11,250 square feet of land. The thoughtfully maintained property features 12 extensively renovated units featuring new hardwood floors, kitchen cabinets, countertops, stainless steel appliances, designer tiles, fixtures, and lighting. The bathrooms have been updated with modern vanities and tile, bathtubs, and hardware. In addition, the units have new vinyl windows and either wall or split system air-conditioning units. New ownership can continue to capture an additional +/- 26% upside in rents through comprehensive renovations of the remaining unit interiors. The charming Mid-Century design, location, and resort-style feel, are major draws for tenants at the Habitat Apartments. Additional drivers leading to the historically high rents being achieved at Habitat include the elevated level of renovations and designer touches. Tenants have proven they are willing to pay more for a premium product which exceeds the level of detail found at competing properties. The building has 19 tuck-under parking spaces and one laundry room. Utilities are separately metered for electricity and gas, and there is one central water heater. Located in the heart of the Koreatown neighborhood, just east of Normandie Ave, and north of Wilshire Blvd, Habitat Apartments offers tenants access to major employment centers and a broad range of entertainment and recreation opportunities, all within a short walk. The Wilshire/Normandie Purple Line is a few-minute walk from Habitat.
24-370505
MLSⓇ ID
March 19, 2024
Listed
April 5, 2024
Updated
Map
514 S Mariposa Ave
Los Angeles CA, 90020
Interior Features
Total Stories
2
Bedrooms
17 Beds
Appliances
None
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s), Wall/Window
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.26 Acres
Other Property Details
Area Name
Mid-Wilshire
Days on Market
8
Garage
Yes
Parking
Community Garage, Controlled Entrance
Parking Total
19
View
No
County
Los Angeles
Pool
No
Zoning
LAR4
Listed by Adam Zunder with Iconic Investments
Listing Contact: 747-214-0470
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Eve Capital shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/5/2024