309 S Mariposa Avenue 201, Los Angeles, California 90020, Los Angeles, 90020 - 2 bed, 3 bath
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309 S Mariposa Avenue 201
Los Angeles, California 90020
ACTIVE
CONDITION: POOR
2Beds
3Baths
1,390Sq Ft
8,409Lot Size
Property Price
LIST PRICE$549,000
EST. MARKET VALUE
$633,545
5% BelowMARKET VALUE
SUMMARY
This property presents a Strong Value Opportunity with a List Price of $599,000—positioned well below the $633,546 Fair Market Value by 5%. This valuation gap offers $34,546 in Instant Equity for buyers prepared to manage a total renovation. Featuring a 1,390 sqft floor plan with a rare 3-bathroom configuration, the unit requires a full gut rehab to reach its potential. Located in a central Los Angeles neighborhood with City Lights views, this is a high-reward acquisition ideal for Fix-and-Flip Investors or Contractors.
Estimated Market Value
$633,545+$84,545 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 309 S Mariposa Avenue 201 Subject 2 bd · 3 ba · 1,390 sqft · $456 | $549,000* List Price | 2 | 3 | 1,390 | $456 | - |
A 431 S Kingsley Drive 205 Active 3 bd · 2 ba · 1,340 sqft · $519 · 0.3 mi | $695,000 List Price | 3 | 2 | 1,340 | $519 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Although the building was constructed in 2005, the listing describes the unit as being in 'squatter condition' and a complete 'fixer' requiring a total remodel of the kitchen, bathrooms, flooring, and appliances. The provided photos are AI-generated or from different units, and the actual property requires a full rehab to be livable.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Equity Potential
Priced at $599,000 with a projected $61,500 remodel cost, the property sits well below the $730,000 market value of similar renovated units, offering substantial instant equity for an investor.
- Modern Layout and Scale
Built in 2005, this unit offers a generous 1,390 square foot floor plan with a rare three-bathroom configuration for a two-bedroom home, providing a competitive edge in the rental or resale market.
- Prime Mid-Wilshire Location
Situated in a high-demand central Los Angeles neighborhood, the property benefits from city light views and proximity to diverse dining, transit, and highly-rated schools like John Marshall Senior High.
CONSRISKS & DEFICIENCIES
- Severe Condition Issues
The property is in 'squatter condition' and requires a total gut renovation including all appliances, flooring, and cabinetry, which will likely restrict financing to cash or hard money buyers.
- Complex Transaction Status
The pre-short sale status combined with limited showing availability and the 'buyer beware' warning suggests a potentially lengthy, complicated, and high-risk closing process.
About 309 S Mariposa Avenue 201
"AI GENERATED" PHOTO CAN BE EXACT LOOK AFTER REMODEL. PLEASE SEE ATTACHED REMODEL ESTIMATE IN DOC FILE. Standard sale but PRICE LOOKS LIKE A REO!!! - LIMITED SHOWINGS - UPPER UNIT, SAME SQ FOOTAGE, LISTED ON THE MARKET FOR $730,000.00. THE BELOW UNIT, SAME SQ FOOTAGE NOW FOR SALE AT $679,000.00. #201 IS A FIXER, Flooring, kitchen, bathrooms, all appliances needed, new paint needed, yes, everything. Previously occupied by tenant, Total Fixer condition. Buyer to verify everything. Property will be delivered free and clear. REVIEW SAMPLE PHOTOS OF THE SAME FLOOR PLAN BUT DIFFERENT UNITS. Estimate for full remodel $61,500. NEW KITCHEN CABINETS, ENTIRE FLOORING TO BE ONE, WOOD LIKE 100% WATER PROOF, NEW BATHROOMS, NEW COUNTER TOPS, NEW RECESSED LIGHTINGS, CHANDELIERS, FULL PAINTING, NEW BASEBOARDS, TOTAL REMODEL JOB AVAILABLE FOR THE NEW OWNERS TO COMPLETE.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 2005
- Lot Size
- 8,409 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $550.0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Cahuenga Elementary School
Grades K-5 • 0.4 mi
5/10
Frank Del Olmo Elementary School
Grades K-6 • 0.5 mi
4/10
Charles H. Kim Elementary School
Grades K-5 • 0.5 mi
6/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,390 | 1,252.996 |
| Lot Size | 8,409 | 26,029.603 |
| Price | $549.0K | $778.5K |
| Price per sq ft | $395 | $629 |
| Built year | 2005 | 1981 |
| HOA | $550.0 | $676 |
| Days on market | 14 | 74 |
Pricing History
Listed for Sale
Nov 5, 2026
$549,000
$599,000
-8% Price Drop
Initial Listing
Price Change
Oct 26, 2026
$599,000
Initial Listing
Sold
May 14, 2008
$440,000
Public Record
Sold
Jul 10, 2006
$640,000
Public Record