923 N Mariposa Avenue, Los Angeles, California 90029

$5,695,000

Property Type

Residential Income

Bedrooms

21

Bathrooms

27

Square Feet

9,350 sqft

City

Los Angeles

Status

Active

A rare opportunity to acquire a newly constructed nine unit multifamily property in the heart of Hollywood. The property is comprised of six expansive 3 bed / 4 bath tri-level townhomes and three ADUs, offering projected annual rental income of approximately $403,200 and an over 5% projected cap rate. The property combines strong income potential with the benefits of newer construction and long term rental appeal. Designed with a level of detail rarely found in traditional multifamily construction, the residences offer generous floor plans and elevated finishes throughout. Interiors feature Tundra marble countertops, custom cabinetry, premium kitchen appliances, in unit washers and dryers and individually designed bathrooms with hand selected tile, glass shower enclosures and Calacatta marble vanities. Oversized windows bring in abundant natural light while private balconies and expansive living spaces give the townhomes a more residential feel. The exterior is equally considered with smooth stucco, wood inspired cladding, expansive glazing, architectural lighting and landscaped grounds. Separate utility metering and newer building systems provide additional ease of ownership and help position the property as a compelling long term investment. Ideally located near some of Hollywood's best dining, shopping and entertainment, the property offers a rare combination of scale, design, income and turnkey appeal in one of Los Angeles' most active rental markets.