1147 S Mariposa Avenue, Los Angeles, California 90006, Los Angeles, 90006 - 3 bed, 3 bath
ACTIVE$895,000
1147 S Mariposa Avenue, Los Angeles, California 90006
3Beds
3Baths
1,913Sqft
5,905Lot
Year Built
1902
Close
-
List price
$895K
Original List price
$880K
Price/Sqft
$468
HOA
-
Days on market
-
Sold On
-
MLS number
25565543
Home ConditionFair
Features
View-
About this home
Possibly Over-Priced:The estimated price is 10% below the list price. We found 3 Cons,5 Pros. Rank: price - $895.0K(60th), sqft - 1913(50th), beds - 3(40th), baths - 3(60th).
Fantastic opportunity in one of LA's most rapidly evolving neighborhoods. This property is ideally located in Korea town, near Mid-Wilshire, and DTLA. It's originally a single family residence, is currently being restored to meet city compliance, with all updates scheduled for completion prior to the close of escrow. A rare chance for owner-occupants seeking value, or for investors interested in maximizing income potential by converting back to a multi-unit or developing condo or apartment project(buyer to verify). Priced attractively below comparable properties in the area. Don't miss this versatile investment with strong long-term upside. Contact listing agent for details.
Nearby schools
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.2mi
3/10
Los Angeles Elementary School
Public,•K-5•0.3mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•0.4mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•0.6mi
3/10
Leo Politi Elementary School
Public,•K-5•0.7mi
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.7mi
8/10
Hoover Street Elementary School
Public,•K-5•1.0mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.2mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•1.3mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•1.3mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.3mi
2/10
Tenth Street Elementary School
Public,•K-5•1.5mi
4/10
Norwood Street Elementary School
Public,•K-5•1.5mi
3/10
Berendo Middle School
Public,•6-8•0.3mi
5/10
Pio Pico Middle School
Public,•6-8•1.1mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•1.7mi
3/10
John H. Liechty Middle School
Public,•6-8•1.7mi
4/10
John Adams Middle School
Public,•6-8•2.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.7mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.7mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.7mi
4/10
West Adams Preparatory High School
Public,•9-12•0.9mi
5/10
Foshay Learning Center
Public,•K-12•2.1mi
3/10
Belmont Senior High School
Public,•9-12•2.2mi
5/10
Santee Education Complex
Public,•9-12•2.6mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.9mi
Price History
Date
Event
Price
09/13/25
Price Change
$895,000
07/15/25
Listing
$880,000
03/01/17
Sold
$723,000
06/22/12
Sold
$465,000
08/13/02
Sold
$345,000
05/07/97
Sold
$168,000
Condition Rating
Fair
The property, built in 1902, is undergoing restoration to meet city compliance, as stated in the description. While some elements like the laminate flooring and kitchen tile appear recently updated, the overall quality of the finishes is basic and functional rather than modern or high-end. The kitchens feature basic dark wood cabinets and a mix of appliances, with one area having an empty refrigerator space. Bathrooms are very basic with fiberglass tub/shower combos and pedestal sinks, and the use of wood laminate flooring in a bathroom is a concern for longevity. Heating and cooling systems are a patchwork of older wall heaters, window AC units, and a mini-split, indicating a lack of a modern central system. The property is aged but has received recent, albeit budget-conscious, updates to make it functional, aligning with the 'fair' condition criteria of being aged, maintained, but with major components showing signs of being outdated.
Pros & Cons
Pros
Strategic Location: The property is ideally situated in the rapidly evolving Koreatown, with close proximity to Mid-Wilshire and Downtown LA, offering high demand and growth potential.
Significant Investment Potential: Offers a rare opportunity for investors to maximize income by converting to a multi-unit or developing a condo/apartment project, indicating strong long-term upside.
Attractive Pricing: Priced attractively below comparable properties in the area, presenting a potential value acquisition for buyers.
City Compliance Updates: Currently undergoing restoration to meet city compliance, with all updates scheduled for completion prior to close of escrow, reducing immediate post-purchase burdens.
Versatile Buyer Appeal: Appeals to a broad range of buyers, including owner-occupants seeking value and investors focused on development opportunities.
Cons
Historic Property Age: Built in 1902, the property's age may imply potential for higher maintenance costs or unforeseen structural/systemic issues despite current restorations.
Development Verification Required: The stated multi-unit or development potential requires the buyer to independently verify feasibility and zoning, adding a layer of due diligence and potential risk.
Lack of View: The property does not offer any specific view, which could be a minor detractor in a competitive Los Angeles market where views often command a premium.