Redfin Corporation Anita Richards
(CA DRE # shown above if in IDX data)
- Beds 8
- Garage 6
- Baths 5
- SQFT 2,588
- Status Active
- Year Built 1904
- Property Type house
About This Property
Prime Koreatown Covered Land Play, House-Hack, & High-Density Development Opportunity! This versatile setup is perfect for an owner-user looking to occupy the entire property, or "house-hack" by living in one unit while offsetting the mortgage with substantial supplemental income from the others. It is equally lucrative for traditional investors and developers alike. Situated on a prime ±5,901 sq. ft. flat lot in the high-demand rental core of Los Angeles (90006), 1107 S Mariposa Ave represents the ultimate multi-tier investment asset. Operating with an SFR footprint but uniquely optimized for maximum revenue, the property features a turnkey, high-yield co-living configuration in the front building paired with a detached back unit. Crucially, 100% of the current tenants are on Month-to-Month leases at rates significantly below market standards, delivering an incoming buyer unparalleled operational flexibility. This ensures an immediate path to aggressive market-rate stabilization for a value-add buyer, or a frictionless timeline for a developer looking to clear the site. While generating resilient holding income, buyers can leverage the property's premium R3-1 zoning and Transit Oriented Communities (TOC) eligibility. This high-density transit corridor designation unlocks massive development incentives, including enhanced Floor Area Ratios (FAR), increased height allowances, and dramatically reduced parking requirements that slash subterranean construction costs. With an established proof of concept directly in the immediate submarket--notably demonstrated by the successful recent development at 1110 S Mariposa Ave--this asset is an incredibly secure, low-overhead wealth-preservation vehicle in one of Southern California's most supply-constrained rental markets!
Property Details
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