7-Unit Apartment
978 S Mariposa, Los Angeles, CA 90006
For Sale
$3,000,000
Apartments include in-unit laundry and a mix of studio, one-bedroom, and two-bedroom floor plans.
Property Size5,375 SF
Price / SF$558.14
Days on Market281
Property Features for 978 S Mariposa
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
high ceilings
washer and dryer
Building Details
Building Size
Year Built
Listing Agency:
Thomas Iping Lo, Broker
(626) 940-6865
Listed By:
THOMAS LO · License CA #01842952
(626) 315-8405
Source:
Thecorralesgroup
Added: Feb 2
Changed: Nov 8
Last Checked: Nov 8 at 7:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Thomas Iping Lo, Broker
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Investment Insights
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Completed in 2017, this 5,375-square-foot apartment property contains seven residences. The unit mix includes studios, one-bedroom apartments, and two-bedroom apartments, each with its own washer and dryer and high ceilings. The property is described as having no rent control.
The building is near Koreatown and surrounded by shopping, dining, and entertainment venues.
The building is near Koreatown and surrounded by shopping, dining, and entertainment venues.
Key Highlights
- Seven apartments totaling 5,375 square feet
- Built in 2017
- Mix of studio, one‑bedroom, and two‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,488
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,729,760
$1.7M
Cap Rate 7%
$1,235,543
$1.2M
Cap Rate 9%
$960,978
$961.0K
Market Conditions
NOI Build-Up for 5,375 SF
Gross rent
$170.9K $31.80/SF
− Vacancy
−$13.7K −$2.54/SF
EGI
$157.3K $29.26/SF
− OpEx
−$70.8K −$13.17/SF
NOI
$86.5K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,729,760
Cap Rate 7%
$1,235,543
Cap Rate 9%
$960,978
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,488 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,089 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
7,185
Businesses Nearby
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Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments include in-unit laundry and a mix of studio, one-bedroom, and two-bedroom floor plans.
Where is this apartment building located?
The property is located at 978 S Mariposa Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Seven apartments totaling 5,375 square feet; Built in 2017; Mix of studio, one‑bedroom, and two‑bedroom units
