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833 S Mariposa Avenue, Los Angeles, California 90005, Los Angeles, 90005 - bed, bath

833 S Mariposa Avenue, Los Angeles, California 90005 home-pic-0
ACTIVE$1,799,997
833 S Mariposa Avenue, Los Angeles, California 90005
0Bed
0Bath
8,165Sqft
6,764Lot
Year Built
1925
Close
-
List price
$1.8M
Original List price
$2.63M
Price/Sqft
$220
HOA
-
Days on market
-
Sold On
-
MLS number
BB24117086
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros.

Huge Price Reduction - Exceptional Art Deco Apartment Building in Prime Los Angeles Location! Discover this distinctive 6-unit apartment building and immerse yourself in its Art Deco design with preserved original details that offer a glimpse into classic Los Angeles style. Each of the 6 two bed, one bath units spans a generous 1,350 square feet, providing ample living space with large closets and lots of natural light. The building features both front and back entrances for easy access and additional convenience. Residents benefit from a secure dedicated parking lot situated behind the building. With a walkability of 94, residents will enjoy the vibrant local scene with a short walk to an array of coffee houses, trendy restaurants, and shops, offering a dynamic urban lifestyle. Seize this opportunity to own a truly unique property in the heart of Los Angeles.

Price History

Date
Event
Price
08/31/25
Price Change
$1,799,997
06/08/24
Listing
$2,625,000
04/06/07
Sold
$1,105,000
Condition Rating
Poor
Built in 1925, this property is an Art Deco building with 'preserved original details,' which, while charming, strongly suggests that major systems, kitchens, and bathrooms are significantly outdated and likely require substantial repairs and rehabilitation. The exterior image shows visible wear and tear on the facade and stairs, indicating deferred maintenance. Without any mention of recent renovations, it's highly probable that the property's major components are at or past their expected lifespan, necessitating extensive system replacements and modernization to meet current standards and comfort levels. The significant price reduction further supports the need for substantial investment.
Pros & Cons

Pros

Exceptional Location & Walkability: Situated in a prime Los Angeles location (Koreatown) with an outstanding walkability score of 94, providing residents easy access to diverse urban amenities including coffee houses, restaurants, and shops.
Significant Price Adjustment: A substantial price reduction from $2.625M to $1.8M indicates a motivated seller and presents a potentially attractive entry point for investors.
Distinctive Art Deco Charm: The property boasts unique Art Deco architecture with preserved original details, offering a rare aesthetic appeal and historical character that sets it apart.
Strong Multi-Unit Income Potential: As a 6-unit apartment building, each featuring spacious 2-bedroom, 1-bathroom units (1,350 sqft), it offers robust rental income opportunities and scalability.
Valuable Dedicated Parking: The inclusion of a secure dedicated parking lot is a significant asset in a dense urban environment like Los Angeles, enhancing tenant desirability and convenience.

Cons

Building Age & Potential Maintenance: Constructed in 1925, the property may require ongoing capital expenditures for system updates (e.g., plumbing, electrical) and general maintenance typical of older buildings.
Limited Bathroom Count Per Unit: Each unit having only one bathroom for two bedrooms might be a drawback for some prospective tenants or families, potentially limiting market appeal compared to units with more bathrooms.
Interior Modernization Needs: While retaining original charm, the interiors may require significant modernization and upgrades to meet current tenant expectations for finishes and appliances, impacting initial investment or rental yield.

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