1412 N Mariposa Avenue, Los Angeles, CA 90027 - Berkshire Hathaway HomeServices California Properties

1412 N Mariposa Avenue, Los Angeles, CA 90027

$1,800,000 Approx. USD 0 beds, 0 baths

Listing Agent


Jordan Petito | jordan@petitocre.com
Lic#: 02023714
Broker: Courtesy of Keller Williams Beverly Hills

Co Listing Agent


Dario Svidler | dario@svidlercre.com
Lic#: 01884474
Broker: Courtesy of Keller Williams Beverly Hills

Agent Remarks

We are proud to present a Ready-to-Issue (RTI) 73-unit (72 Units + 1 ADU), 100% Affordable Housing Development Opportunity on a 6,789 SF lot in the vibrant neighborhood of East Hollywood. The Accessory Dwelling Unit (ADU) is already approved in the Planning Department Letter of Compliance, enhancing its overall value. The property is in an Opportunity Zone! The proposed development features 19,024 SF of total floor area with 15,062 SF + 382 SF (ADU) of rentable square footage, in a 5-story building design with Type III-A construction. The majority of the 72 + 1 units are efficiency units, with sizes averaging 195 SF. This design allows for significantly lower rental prices compared to neighboring properties while still generating high yields per square foot. The restricted rent levels for the project include 80% designated for TCAC Schedule IX low-income tenants and 20% for HCD Schedule VI moderate-income tenants. East Hollywood is a thriving area known for its rich cultural diversity and strong community. The Mariposa Apartments project is conveniently located within a short walk to Kaiser Permanente and Children's Hospital, making it an ideal residence for healthcare workers and families. The property is situated in a Transit-Priority Zone, with easy access to major public transportation routes, including the Vermont/Sunset Metro Subway Station, further enhancing its appeal to residents who rely ontransit. The property's location offers convenient access to parks and recreational areas (including Barnsdall Park), enhancing the vibrant living experience for residents. With zero parking requirements, developers can eliminate the high costs associated with on-grade parking, further increasing the project's affordability. Additionally, the area boasts an impressive Walk Score of 90, classifying it as a "Walker's Paradise," with a wide range of amenities and services just a short distance away. All entitlement approvals are in place, and the property will be delivered with Ready-to-Issue status and vacant at the close of escrow. No prevailing wage requirements. No SB 8 replacement requirements. No construction lift needed as building is less than 60 feet in height.

Listing Details

Property type: (Lots/Land)
Status: Pending
MLS# 24458329
List price is $1,800,000 Reduced by $575,000 on 12/6/2024
Price: $1,800,000
Beds: 0
Baths: 0
0.16 acres
Lot size: 0.1559
County: Los Angeles
Zoning: RD2-1XL
MLS area: C20 - Hollywood

Last Updated: 4/3/2025

 Days On Market (DOM): 137

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This listing belongs to the C20 - Hollywood MLS area

Lat/Long: 34.096961, -118.299093.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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