www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
23310910
33242322

514 S MARIPOSA AVE LOS ANGELES CA 90020, LOS ANGELES, CA 90020

MV
CA 01811490
Lyon Stahl Investment real Estate
Listed by Lyon Stahl Investment real Estate
$3,995,000
392 days on market
Updated 0 days ago
Opportunity zone

MUST SELL! | 19 Units | 6.02% Cap | Koreatown

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 12,294
Net Rentable (SqFt) 12,294
Units 19
Cap Rate 5.19%
NOI $222,657
Occupancy 95%
Pro-Forma Cap Rate 8.3%
Pro-Forma NOI $331,545
Price per SqFt $325
Broker Co-Op Yes
Class C
Year Built 1960
Year Renovated 2018
Buildings 1
Stories 2
Lot Size (SqFt) 11,250
Zoning LAR4
Investment Type Value Add

Partially renovated asset in Heart of Koreatown with over 20% upside

Marketing description

THE OPPORTUNITY: Mariposa514 is a best-in-class, 19-unit value-add opportunity located just north of Wilshire Boulevard in the heart of Koreatown—one of L.A.’s most sought-after and supply-constrained rental submarkets. The building has already undergone a substantial renovation program, with 12 of the 19 units upgraded to a luxury spec and achieving market-making rents that rival new construction—but at a meaningfully lower basis. The remaining ±26% rental upside can be captured through a proven renovation model, allowing investors to complete the repositioning without entitlement risk, lease-up uncertainty, or major capex. The property’s in-place income supports a 5.19% current cap rate, with stabilized performance closer to 7.70%, offering a rare combination of cash flow, appreciation potential, and execution simplicity. With a Walk Score of 94 and Transit Score of 80, Mariposa514 is ideally situated in a true live-work-play environment surrounded by dining, nightlife, and major transit lines. PROPERTY DESCRIPTION: Originally built in 1960, Mariposa514 offers the curb appeal and efficient layouts of a classic mid-century asset—paired with modern systems and interior Finishes. The unit mix includes 17 large one-bedrooms and 2 studios, totaling approximately 12,294 square feet on an 11,250 square foot LAR4-zoned lot. Renovated interiors feature quartz countertops, stainless steel appliances, split-system A/C, custom tile, and updated baths with deep soaking tubs. All units are separately metered for gas and electricity. The property includes shared laundry, ample natural light, and solid in-place tenancy. With no seismic retrofit obligation and a thoughtful renovation already executed, Mariposa514 is turnkey where it counts—and still offers room to grow.

Investment highlights

  • Over 20% Rental Upside: Legacy units leasing approximately $350-$1,100 below market, with a proven renovation template already delivering results in 63% of units.
  • Renovated Mid-Century Asset: 12 of 19 units fully renovated with high-end finishes.
  • High Walk Score of 94: “Walker’s Paradise” designation with immediate access to shopping, transit, and Koreatown nightlife. Core Koreatown asset with immediate access to Metro Purple/Red Line, the 10 and 101 freeways, and Koreatown's premier dining corridor. This quiet residential pocket is blocks from 6th St and Koreatown’s commercial core.
  • Turnkey Interiors with Upside: Renovated units feature quartz countertops, stainless appliances, split-system A/C, and custom tile. Separately metered gas and electric. Gated parking.
  • Strong Submarket Fundamentals: Koreatown absorbed 910 units over the past 12 months. 1 & 2 Star vacancy holds at 5.0% with 88% renter households. Rents run 18% below the metro average, signaling further growth runway.
  • Portfolio Opportunity: Provides plenty of rare off-street parking advantage in a dense, transit-friendly urban core.
  • LAR4 Zoning: Adds long-term development or repositioning optionality in a rapidly evolving corridor.

Listing Contacts

MV
CA 01811490
Lyon Stahl Investment real Estate
Listed by Lyon Stahl Investment real Estate

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$222,657.00
$18,554.75/mo

Valuation Metrics

0
DSCR
5.57%
Cap Rate
5.57%
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Mark Ventre
License
01811490
Brokerage
Lyon Stahl
Brokerage Phone
323.202.9741
Title
1st Vice President
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591