328 N Mariposa Ave 4 Unit Apartment Building $1,994,649 CAD ($498,662 CAD/Unit) 5.47% Cap Rate Los Angeles, CA 90004

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 328 N Mariposa Avenue in Los Angeles, California. The subject property is located in a solid Koreatown location, north of Beverly Boulevard and west of Vermont Avenue.
This property offers a solid Koreatown location with a streamlined unit mix of all two-bedroom units, some of which features views of the Hollywood Sign. Three units are currently vacant and taken down to the studs, with approved plans in place to convert them into spacious three-bedroom layouts, enhancing rental potential. Each unit is separately metered for gas and electricity, while a four-car garage in the rear provides additional upside through the opportunity to convert into multiple ADUs under SB1211. The building benefits from lush front-yard landscaping that enhances curb appeal and sits in a prime position with dominant access to major commercial corridors including Normandie Avenue, Beverly Boulevard, Western Avenue, and Vermont Avenue.
With its solid Koreatown location, value-add potential, and multiple avenues for unit and ADU conversion, this property presents a rare opportunity for investors to capture strong long-term rental upside.