CA > Los Angeles
Los Angeles, CA 90004,101 S. MARIPOSA AVE
Los Angeles, CA 90004,101 S. MARIPOSA AVE
Los Angeles, CA 90004,101 S. MARIPOSA AVE
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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660
$1,890,000
Est. payment /mo
4,796 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Sub Type Unimproved Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRCV25175491

HOA Y/N No

Lot Size 4,796 Sqft

Acres 0.11

Property Sub-Type Unimproved 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

Zoning LAR4

Interior

Fireplace No

Exterior

Utilities Available No Water/Sewer

View Y/N true

View City Lights

Building

New Construction No

Others

Tax ID 5518006003

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Listed by Wei Chang • AMERIWAY REALTY

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Eric & Janelle Boyenga

Eric & Janelle Boyenga

+1(408) 373-1660

Agent | DRE01254724 / 01254725

Agent DRE01254724 / 01254725

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