22
See all 22 photos
$2,280,000
Est. payment /mo
4,795 Sqft Lot
New
101 S Mariposa AVE Los Angeles, CA 90004
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25091611
HOA Y/N No
Lot Size 4,795 Sqft
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 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%. Rental rates are forecasted to increase by approximately 5% annually from 2026 through 2030, offering significant long-term growth potential. This location is poised to benefit from upcoming global events such as the 2026 FIFA World Cup and the 2028 Los Angeles Summer Olympics, which are expected to further boost real estate values across the city. 101 S. Mariposa Avenue presents an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning LAR4
Interior
Fireplace No
Exterior
Community Features Street Lights, Sidewalks
View Y/N Yes
View City Lights
Building
Lot Description 0-1 Unit/Acre
Water Public
New Construction No
Others
Senior Community No
Tax ID 5518006003
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Wei Chang • AMERIWAY REALTY • 626-217-3578
GET MORE INFORMATION
QUICK SEARCH