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Listing ID 19432616
Price$9,500,000
SqFt 28,472
Acres 0.207
Status Active Under Contract
County Los Angeles
Year Built 1928
Property Type Rental Income
The elegant and spacious 48-Unit apartment building of 520 S Mariposa Avenue has been well-maintained, owned and operated by the same owner for the last 24 years. This property offers sustainable investment grade upside with great asset security for any investor looking to own in the dense rental market of Koreatown. The property itself sits in a Qualified Opportunity Zone. Allowing for an investor with holding plans to take advantage of the tax break implications. The upside can be seen with the incredible marketable location and the property offering any investor a great sum of wealth accumulation through asset appreciation. This upside, along with the area's continuous growth in rent and developments, makes this a fantastic opportunity in the heart of Koreatown. With a Market Cap Rate of 6.82% and a Market GRM of 9.92, this investment opportunity is a great way to achieve healthy current cash flow and the opportunity to achieve over 30% rental upside.
Listing courtesy of David Harrington (01320460) from Matthews Real Estate Investment Services.
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Contact - Listing ID 19432616

Brett Lawyer

250 N Canon Drive
Beverly Hills, CA 90210
Phone: 3108585402

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