
Los Angeles, California 90004
This Value-Add Quadruplex Asset is listed at $1,350,000, a price point reflecting its prime Koreatown location and shovel-ready status. While currently valued at a $1,246,489 Fair Market Value, the property’s true worth lies in its Condition Rating of 5 and approved plans to convert gutted units into high-income 3-bedroom layouts. Featuring a New Roof, Hollywood Sign Views, and significant ADU Potential via SB1211, the asset is primed for forced appreciation. This is a high-upside opportunity perfectly suited for Value-Add Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 328 N Mariposa Subject | $1,350,000* List Price | 0 | 0 | 5,782 | $143 | - |
A 102 N Oxford Avenue Sold | $1,143,000 | 0 | 0 | 5,517 | $207 | 0.5 mi |
B 109 S Catalina Street Active | $1,600,000 List Price | 0 | 0 | 5,540 | $289 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1923, the property is currently undergoing major rehabilitation with three of the four units gutted to the studs. While it has a new roof and approved plans, the interior is currently uninhabitable, lacking functional kitchens, bathrooms, and finished living spaces, requiring substantial capital investment to complete.
Three units are already delivered vacant and taken down to the studs with approved plans and paid permits for conversion into 3-bedroom, 2-bath layouts, allowing for immediate equity growth and optimized rental income.
The property includes a four-car garage with potential for multiple ADU conversions under SB1211, while uniquely maintaining space for up to nine parking spots in a neighborhood where parking is extremely scarce.
Situated in a high-demand rental pocket north of Beverly Blvd, the building offers excellent proximity to major commercial corridors and features desirable views of the Hollywood Sign from select units.
Because three of the four units are currently gutted, the buyer must have significant liquid capital and construction expertise ready to complete the extensive renovations required to make the building habitable.
Built in 1923, the property may harbor hidden costs related to century-old plumbing, electrical, or structural systems that are common in older Los Angeles multi-family assets despite the recent roof replacement.
Back on Market, Buyer did not perform, Back on Market Buyer did not Perform We are pleased to present a four (4) unit apartment building located at 328 N Mariposa Avenue in Los Angeles, The subject property is located in a solid Koreatown location, north of Beverly Boulevard and west of Vermont Avenue. This property offers a solid Koreatown location with a streamlined unit mix of all two-bedroom units, some of which features views of the Hollywood Sign. Three units are currently taken down to the studs, with approved plans in place and permits paid to convert them into spacious three-bedroom two baths layouts, enhancing rental potential. New roof is allready in place, Each unit is separately metered for gas and electricity, while a four-car garage in the rear provides additional upside through the opportunity to convert into multiple ADUs under SB1211 and still have parking for about 9 cars parking is very scarce in this area, The building benefits from lush front-yard landscaping that enhances curb appeal and sits in a prime position with dominant access to major commercial corridors including Normandie Avenue, Beverly Boulevard, Western Avenue, and Vermont Avenue. With its solid Korea town location, value-add potential, and multiple avenues for unit and ADU conversion, this property presents a rare opportunity for investors to capture strong long-term rental upside.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 5,782 | 4,490.5 | 75% |
| Lot Size | 8,405 | 7,556 | 75% |
| Price | $1.35M | $1.12M | 75% |
| Price per sq ft | $233 | $265 | 50% |
| Built year | 1923 | 1922 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 53 | 132 | 50% |
Mar 9, 2026
$1,350,000
Initial Listing
Jun 4, 2024
$1,290,000
Public Record
May 29, 2024
$1,150,000
Public Record