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.
Property Details
Property Features
Property Information:
Year Built: 1930
Stories: 4
Living Area: 24,200 SqFt
Listing Office:
Office Name: Iconic Investments
Office Phone: (747) 444-3300
Listing Agent: Adam Zunder
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 40
Exterior Features
Parking Information:
Garage Space: 20 spaces
Parking: Controlled Entrance, Community Structure
Lot Features
Lot Information:
Lot Size: 0.19 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: None
Other
Directions Information:
Directions: Prime Koreatown Location. Walking distance to Wilshire and major transportation. Just east of Western Ave.
Price Information
Listing Price Info
Price Summary:
List Price: $4,500,000
Price Per SqFt: $186/SqFt
Tax Information:
Annual Amount: $19,767
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $3.4M more than the Median Sold Price and $454/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24448161
Listing Office:
Office Name: Iconic Investments
Office Phone: (747) 444-3300
Listing Agent: Adam Zunder
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/19/2024, 7:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jun 02, 1993
Jun 02, 1993Home Sold
$62,500
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$19,767
$1,455,622
2020
$19,162
$1,428,053
2019
$19,076
$1,400,053
2018
$18,671
$1,372,602
2017
$18,671
$1,345,689
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
RFK Community Schools - Ambassador School of Global Education
3201 W 8th St
Distance between this listing and this school0.09 miles
Public District Grades KG-5
4
/10
Hobart Boulevard Elementary School
980 S Hobart Blvd
Distance between this listing and this school0.52 miles
Public District Grades KG-5
7
/10
Hoover Street Elementary
2726 Francis Ave
Distance between this listing and this school0.79 miles
Public District Grades KG-5
Nearby Schools
3
/10
Young Oak Kim Academy
615 Shatto Pl
Distance between this listing and this school0.57 miles
Public District Grades 6-8
2
/10
Monsenor Oscar Romero Charter Middle School
2670 W 11th St
Distance between this listing and this school0.64 miles
Public Charter Grades 6-8
6
/10
Rise Kohyang Middle School
3020 Wilshire Blvd Fl 2
Distance between this listing and this school0.67 miles
Public Charter Grades 6-8
Nearby Schools
5
/10
RFK Community Schools - UCLA Community School
700 S Mariposa Ave
Distance between this listing and this school0.08 miles
Public District Grades KG-12
4
/10
RFK Community Schools - New Open World Academy
3201 W 8th St
Distance between this listing and this school0.09 miles
Public District Grades KG-12
4
/10
RFK Community Schools - Ambassador School of Global Leadership
701 S Catalina St
Distance between this listing and this school0.12 miles
The neighbors living near this home have an average income of $29,108. Most Los Angeles, CA residents have annual incomes less than $35k. Most families are single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 724 S Mariposa Ave
What is the listing price of this property?
The listing price of 724 S Mariposa Ave property is $4,500,000.
What type of property is this?
The property 724 S Mariposa Ave is a house located in Los Angeles, California, 90005.
Is this property for sale now?
Active Listing: 724 S Mariposa Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $19,767 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on June 2, 1993 for $62,500. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 724 S Mariposa Ave has 40 bedrooms and 40 bathrooms.
What is the square footage of this property?
The property 724 S Mariposa Ave is 24,200 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 724 S Mariposa Ave is 1930.
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This home is located at 724 S Mariposa Ave in Los Angeles, CA and zip code 90005 in the Central LA neighborhood. This 24,200 square foot home, which was built in 1930, sits on a 0.19 acre lot. Features: 40 bedrooms, 40 bathrooms. It has been listed on Rocket Homes since October 03, 2024 and is currently priced at $4,500,000.
In November 2024, from all listings sold in Los Angeles, CA there were more than 512 sold above asking price, over 657 sold below and more than 177 were sold right at the asked price. The number of listings in Los Angeles, CA decreased by 0.6% between October 2024 and November 2024. Listings spent 38 days on the market in November 2024, and had a median list price of $1,021,532 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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