1107 S Mariposa Avenue, Los Angeles, California 90006, Los Angeles, 90006 - 0 bed, 0 bath
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Los Angeles, California 90006
This property presents a High-Potential Investment Opportunity with a List Price of $1,650,000—positioned above the $1,570,284 Fair Market Value. While priced at a premium, the asset offers significant upside through its R3-1 Zoning and TOC eligibility, which provide massive development incentives in a high-demand transit corridor. Featuring a Condition Rating of 5, the structure serves as a strategic Covered Land Play for Buy-and-Hold Investors or Developers. The property’s turnkey co-living configuration and month-to-month leases ensure immediate operational flexibility for aggressive market-rate stabilization.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1107 S Mariposa Avenue Subject | $1,650,000* List Price | 0 | 0 | 2,588 | $607 | - |
A 1028 S Kenmore Active | $1,400,000 List Price | 0 | 0 | 2,408 | $581 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1904, this 120-year-old property is primarily marketed as a 'covered land play' and high-density development opportunity. While the interior is described as 'turnkey' for co-living, the extreme age of the structure, visible wear on the roof in aerial imagery, and the listing's emphasis on 'clearing the site' for TOC development indicate the building is in poor condition relative to modern standards and nearing the end of its functional utility.
The property features R3-1 zoning and TOC eligibility, offering significant development incentives such as increased Floor Area Ratio (FAR) and reduced parking requirements in a prime Koreatown transit corridor.
With 100% of tenants currently on month-to-month leases at below-market rates, the buyer has a clear path to immediate market-rate stabilization or a frictionless timeline for redevelopment.
The combination of a turnkey co-living front building and a detached back unit provides multiple exit strategies, including house-hacking, traditional multi-family investing, or a covered land play.
Built in 1904, the century-old structure may require significant capital expenditure for maintenance and system upgrades to remain competitive with newer developments in the area.
The majority of the immediate assigned public schools have low ratings (2-3), which may limit the property's appeal to long-term family tenants and impact traditional residential resale value.
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!
No exterior & parking available.
Grades K-2 • 0.2 mi
Grades K-5 • 0.4 mi
Grades K-5 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,588 | 2,250 |
| Lot Size | 5,901 | 5,864 |
| Price | $1.65M | $826.7K |
| Price per sq ft | $638 | $395 |
| Built year | 1904 | 1925 |
| HOA | $0 | $0 |
| Days on market | 12 | 83 |
Jul 10, 2026
$1,650,000
Initial Listing
Jun 9, 2016
$850,000
Public Record
May 13, 2010
$530,000
Public Record
Jul 5, 2007
$800,000
Public Record