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Listed by Wei Chang • AMERIWAY REALTY
$2,280,000
Est. payment /mo
4,796 Sqft Lot
Active
101 S Mariposa AVE Los Angeles, CA 90004
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Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRCV25091611
Originating Board California Regional MLS
Lot Size 4,796 Sqft
Property Sub-Type Other Residential Land
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 203
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning D0
Exterior
View City Lights
Building
Water District - Public
Others
Tax ID 5518006003
Special Listing Condition Not Applicable
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