Residential Land for Sale in Los Angeles, California

1412 N Mariposa Ave Los Angeles, CA 90027

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$2,375,000
0.16 acres
Active sale agoEst $13,772/mo

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 + 382 SF (ADU) 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.

Sq feet

Directions

Blocks from the intersection of Normandie and Sunset

Location

Street Address
1412 N Mariposa Ave
Elevation
364 feet
Coordinates
34.097, -118.2991

Property details

Zoning
RD2-1XL
MLS Number
CLAW 24-458329
Date Posted

Parcels

  • 5543-024-017

This 0.16-acre property is located at 1412 N Mariposa Ave in Los Angeles, CA 90027 with latitude 34.097 and longitude -118.2991. The property is currently available for sale for $2,375,000. It has a structure. Listing data is sourced from Combined LA Westside Multiple Listing Service # 24-458329.

Verify sale details at the property source or contact Keller Williams Beverly Hills at (310) 432-6400.

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Updated . Checked 1 hour ago. Parcel data by Regrid.

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