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Dilbeck Real Estate
Real Living
818-790-6774

724 N MARIPOSA AVE, LOS ANGELES CA, 90029

(Closed)
Sold Price:
$885,000
Date:01/08/2014
|
5,636 sqft
|
MLS# 13696847
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Listing Provided Courtesy Of: Marcus & Millichap
Last Updated: 4/17/2014 2:10 AM
Description for 724 N MARIPOSA AVE LOS ANGELES, CA 90029
We are pleased to offer for sale a seven unit apartment community located at 724 North Mariposa Avenue. Located just east of Normandie and north of Melrose Avenue, the subject property is located in a rapidly developing East Hollywood sub-market. The subject property offers investors the opportunity to acquire an extremely well maintained asset with a stable operating history and a significant value-add component, which would result in a sizable increase in rental rates.Consisting of one two-story building situated on a 6,522 square foot parcel, the property features five two-bedroom/one-bath units and two two-bedroom/two-bath units. Additionally, there is one non-conforming single unit that is currently being used for storage and is not included in any income projections (buyer to investigate all legal issues regarding this unit). Every unit has one parking space. Due to its 1959 construction, the property is subject to Los Angeles rent control statutes.
Price
Sold Price:
$885,000
Sold Date:01/08/2014
Los Angeles
5,636 (approx)
13696847
Closed
Description
We are pleased to offer for sale a seven unit apartment community located at 724 North Mariposa Avenue. Located just east of Normandie and north of Melrose Avenue, the subject property is located in a rapidly developing East Hollywood sub-market. The subject property offers investors the opportunity to acquire an extremely well maintained asset with a stable operating history and a significant value-add component, which would result in a sizable increase in rental rates.Consisting of one two-story building situated on a 6,522 square foot parcel, the property features five two-bedroom/one-bath units and two two-bedroom/two-bath units. Additionally, there is one non-conforming single unit that is currently being used for storage and is not included in any income projections (buyer to investigate all legal issues regarding this unit). Every unit has one parking space. Due to its 1959 construction, the property is subject to Los Angeles rent control statutes.
Listing Information
Property Type: Multi-Family
6,522 Sq. Ft. Vendor Enhanced (N) 5,636 (approx)
Vendor Enhanced (N) $155.25 1959
7 Total
Neighborhood
Room Information
Interior Features
A/C - Other
Other
Other
Exterior / Lot Features
8 Parking Spaces
LARD1.5
Driving Directions
Located just east of Normandie and north of Melrose Avenue, the subject property is located in a rapidly developing East Hollywood sub-market.
Financial Considerations
5538007029
Income ,$31,875
Semi Annually
Listing Price History

LOS ANGELES Real Estate

LOS ANGELES is located in California. LOS ANGELES, California 90029 has a population of  3,792,621.

The median household income in LOS ANGELES, California 90029 is $46,901. The median household income for the surrounding county is $52,874 compared to the national median of $50,935. The median age of people living in LOS ANGELES 90029 is 34.2 years.

Sales History
Tax Info
Listing Provided Courtesy Of: Marcus & Millichap Sean Rosenzweig
The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved.
Information is deemed reliable but is not guaranteed.

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