1412 N Mariposa Avenue
Los Angeles, CA 90027
- – beds
- – baths
- – sqft
- 6,789 sqft lot
- – on site
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 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.
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Last updated Nov 2, 2024
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MLS# 24458329 —
This property is listed in more than one place. See it here.
The Building
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New Construction:No
Location
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Directions:Blocks from the intersection of Normandie and Sunset
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Latitude:34.09696100
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Longitude:-118.29909300
The Property
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Property Type:Land
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Zoning:RD2-1XL
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Lot Size Area:6789.0000
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Lot Size Dimensions:50x136
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Lot Size Acres:0.1559
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Lot Size SqFt:6789.00
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Lot Size Source:Other
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View:None
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5543024017
The Community
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Senior Community:No
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Association:No
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Assessments:No
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
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10/30/24
Oct 30, 2024
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Listed / Active | CRMLS_CA | $2,375,000 | 115.9% |
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9/23/24
Sep 23, 2024
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BRIDGE | $1,100,000 | -15.4% (-11.9% / YR) | |
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6/7/23
Jun 7, 2023
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BRIDGE | $1,300,000 |
