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$4,325,000

  • Sold
  • Closed
  • Multi-Family
  • 40 Total Beds
  • 20 Car Garage
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We are pleased to present for sale, The Ambassador Apartments, located at 724 S. Mariposa Ave. This prime Koreatown location is just south of Wilshire BLVD and east of Normandie Ave, offering easy access to the Wilshire/Normandie Metro Station, restaurants, shopping, and entertainment. Ambassador Apartments features 40 units with eight Bachelors, twenty-four Studios, and eight 1 Bedroom/ 1 Bath units. The property has a subterranean parking garage with 20 individual parking spaces. Utilities are master metered for both gas and electric, with one central water heater. The roof was completely replaced, down to the plywood, in 2020. Ambassador Apartments was built in 1930 and is brick construction. This is a great opportunity to acquire Ambassador Apartments with an in-place Cap Rate of 7.11% and a 7.24 GRM, with upside to a 8.35% Cap Rate and a 7.09 GRM. The price per unit is $125,000 per unit and $206 per square foot.

Full Property Details for 724 S Mariposa Ave

General

  • Sold For: $4,325,000
  • Status: Closed
  • Type: Multi-Family
  • Source: CLAW
  • MLS ID: 24-448161
  • Added to Site: 497 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 40

Bedrooms

  • Total Bedrooms: 40

Additional Information

  • Other Features: None

Parking

  • Garage: Yes
  • Garage Spaces: 20
  • Garage Description: Controlled Entrance, Community Garage

Location

  • Area: Mid-Wilshire
  • County: Los Angeles
  • Driving Directions: Prime Koreatown Location. Walking distance to Wilshire and major transportation. Just east of Western Ave.

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Wall

Structural Information

  • # Buildings: 1
  • Stories/Levels: 4
  • Square Feet: 24,200
  • Sq. Ft. Source: Assessor
  • Year Built: 1930
  • Year Built Source: Vendor Enhanced

Unit Information

  • Units in Complex: 40
  • Unit Type: 2106, 2107, 2108

Unit 1

  • Total Bathrooms: 1

Unit 2

  • Total Bathrooms: 1

Unit 3

  • Total Bathrooms: 1
  • Bedrooms: 1

Additional Structures

  • Other Structures: None

Lot Features

  • Lot Size (Acres): 0.1857
  • Lot Size: 8087
  • Lot Size Source: Assessor
  • Zoning: LAR5

Financial Considerations

  • Price Per Sq. Ft.: $185.95
  • Assessment Year: 1930

Disclosures and Reports

  • Disclosures/Reports: None
  • APN: 5094-006-007

Listed and Sold by Iconic Investments, Adam Zunder and Iconic Investments, Hooman Ghaffari

Listing agents

— 724 S Mariposa Ave —

  • Adam Zunder

    Iconic Investments

  • Hooman Ghaffari

    Iconic Investments

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 724 S Mariposa Ave

School District:Los Angeles Unified School District
NameGradesDistance
Rfk Community Schools - Ambassador School - Global Education
3201 West 8th Street, Los Angeles, CA 90005
K-50.1 mi
Rfk Community Schools-Ambassador-Global Leadership
701 South Catalina Street, Los Angeles, CA 90005
6-80.1 mi
Young Oak Kim Academy
615 Shatto Place, Los Angeles, CA 90005
6-80.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 724 S Mariposa Ave

Date
Details
Price
Change
Source
2/12/2025
Sold
$4,325,000
-3.89%
MLS
12/09/2024
Price Reduced
$4,500,000
-10%
MLS
10/02/2024
Listed
$5,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by Iconic Investments, Adam Zunder and Iconic Investments, Hooman Ghaffari

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724 S Mariposa Ave, Los Angeles, CA 90005 (MLS# 24-448161) is a Multi-Family property that was sold at $4,325,000 on February 12, 2025. Want to learn more about 724 S Mariposa Ave? Do you have questions about finding other Multi-Family real estate for sale in Mid-Wilshire? You can browse all Mid-Wilshire real estate or contact a Coldwell Banker agent to request more information.