1205 S Mariposa Avenue

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 1205 S Mariposa Avenue in Los Angeles, California. The subject property is located in a solid Pico Union location, north of Pico Blvd and east of Normandie Ave.

Pico Union is a historic and culturally rich neighborhood just west of Downtown LA, known for its dense population, early 20th-century architecture, and strong immigrant community, particularly from Central America and Mexico. The area is characterized by a mix of older apartment buildings, Victorian homes, and small businesses, giving it a unique, urban feel. It offers convenient access to major employment centers, public transit, and freeways, making it a prime location for working-class families and commuters. While it has long been one of LA’s more affordable neighborhoods, rising rents and new development projects signal gradual changes. Despite ongoing challenges like overcrowding and aging infrastructure, Pico Union remains a vibrant and historically significant part of Los Angeles with a strong sense of community.

Built in 1926, this property consists of a good unit mix of six (6) studios and four (4) one-bedroom units. It offers a very strong initial cap rate of 6.49%, presenting an attractive investment opportunity

with solid returns. The character Spanish-style bungalows are gated and secure, with a center courtyard and easily maintained landscaping. There is also ample street parking available for both tenants and visitors. Positioned adjacent to Koreatown, the property provides convenient access to major commercial corridors like Vermont Avenue, Western Avenue, and Wilshire Boulevard, as well as the 10, 110, and 101 freeways. With such close proximity to the Koreatown commercial corridor, tenants can enjoy nearby amenities such as The Wiltern, CGV Cinemas, Koreatown Galleria, and Park’s BBQ. Additionally, outdoor recreation options like Seoul International Park and Normandie Recreation Center are located nearby, making this a desirable investment opportunity.

Situated in a solid Pico Union location, this property offers a strong initial cap rate of 6.49% as well as easy access to key amenities and transit options nearby.