1309 NORTH MARIPOSA AVENUE
Los Angeles (City), CA 90027
Residential Income/Sold for $1,385,000
Overview
VACANT 4-unit property in an Opportunity Zone of East Hollywood. Rare chance to own an investment property, rehab and chose your tenants, or build a ground-up development. While this property can serve well as an owner/user investment, due to its approximate 8,071 square foot lot, it may also be possible for investors and developers to turn this R3-zoned parcel into a multi-story residential property development. The current 2,938 square foot building is vacant and consists of 4 units: three units are 1 bed/1 bath, while the back unit consists of a larger 2 bed/2 bath residence. One of the most dynamic Los Angeles neighborhoods in which a developer can take advantage of, with an extremely high demand for residential rental units. Located minutes from the trendy Silver Lake, Echo Park, Los Feliz, and Virgil Village; areas that are experiencing a major increase in luxury residential and commercial property developments. Along with being in close proximity to nearby studios, entertainment entities/ employers, bars, restaurants, and neighborhood amenities, it is also within walking distance from the new Netflix office.
