Exclusive Listings

8-Unit Prime value-add deal, near Koreatown HIGH CAP rate & Cash-on-Cash Returns!

Address:
515 N Mariposa Ave
Los Angeles, California 90004
Price:
$2,350,000
Status:
Available
Type:
Apartment
# Units:
8
Year Built:
1937
Building Size:
4,049
Lot Size:
7,499
CAP Rate:
5.10%
GRM:
14.29x
Price/Unit:
$293,800
Price/SqFt:

Executive Summary

Growth Investment Group is proud to present 515 N Mariposa, a value-add investment offering centrally located at the heart of Oakwood, East Hollywood. This HIGH CAP Rate and value-add investment offering provides investors an excellent opportunity to buy with a low down payment and high Cash-on-cash return. The deal offers a current CAP Rate of over 5% and an estimated Proforma CAP Rate close to 7%. It is centrally located in the highly desirable opportunity zone, just minutes away from Larchmont Village, Paramount Studios, Los Angeles City College & MacArthur Park. Built-in 1937 this building consists of 8 exceptional units totaling 4,049 SF (this square footage is excluding the new ADU unit!) of living area on a sizeable 7,499 SF lot. This offering consists of two easily maintained buildings, with a unique unit mix of (three) studios, (four) two-bedroom-one bath, and (one) one-bedroom newly built ADU. The newly built ADU building consists of a new laundry room, storage spaces, and seven carports, which will be able to provide additional income. All units include hardwood flooring, large full kitchens & bathroom with closet space. These units also include wall heating & wall A/C. The majority of rents are close to market price, making it an exceptional opportunity for an investor looking for a high cash flowing property in a strong submarket. 515 N Mariposa is an easily maintained building, tenants pay for gas, electrical, and trash while the landlord pays for Water & Maintenance. Disclaimer* New ADU construction is ongoing and will be completed within 1-2 Months.

Can be purchased with 210 N Kenmore for a total of 20-Units at a 5.13% CAP Rate. 



Investment Highlights 

  • 8-Unit Value-Add Opportunity
  • Priced to sell HIGH CAP RATE 5.10% & 14.29 GRM, Low down payment of ±35%, and High Cash-on-cash return of ±6.94%!
  • Proforma Cap Rate 6.71% & Market 11.55 GRM with a total 32% Upside
  • Opportunity Zone (OZ) investment!
  • Steady and consistent tenants who have paid rent through the pandemic
  • Strong submarket with high market rents and demand
  • Low Maintenance Property with owner covering Water only
  • Tenants pay for Trash, Electricity, and Gas. 

Property Highlights 

  • Perfectly adjacent to Koreatown, East Hollywood, Larchmont Village, Westlake-Rampart, and Echo Park.
  • Strong cash flowing property in one of the strongest submarkets in Los Angeles
  • In perfect adjacency to many shopping centers & entertainments while being surrounded by many strong employers & major retailers
  • Major Employers: Netflix, Paramount Studios, Sunset Gower, LACMA, Los Angeles City College, American Career College, Kaiser Sunset & Los Angeles Children Hospital
  • Major Retailers: Target, Ralphs, Vons, Starbucks, McDonald's, California Donuts, Rite Aid, and many more.

Marketing Files


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com

Marc Schwartz
Direct: 213.362.8500
marc.schwartz@growthinvestmentgroup.com

Abel Benitez
Direct: 626.898.9740
abel@growthinvestmentgroup.com

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Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
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