Located in the vibrant Koreatown community of Los Angeles, 101 S. Mariposa Avenue offers a rare development opportunity with RTI (Ready-To-Issue) permits in place. The existing property features a charming single-story bungalow with four bedrooms, two bathrooms, a welcoming front deck, and ample driveway parking. The approved plans allow for the construction of a brand-new, four-story contemporary co-living development. The new project will feature 27 private studio suites, each thoughtfully designed to meet the needs of modern urban living. The building will encompass approximately 8,656 square feet on a 4,796.5 square foot lot, designed with contemporary finishes, energy-efficient features, a full sprinkler system, and compliance with the latest seismic and building codes. Situated just minutes from USC, UCLA, LACC, and LMU, the property benefits from a strong demand for rental housing, making it ideal for student housing or co-living operations. Average monthly rents for studios in Koreatown range from $1,350 to $1,500, supported by a high occupancy rate of 92%. The estimated annual rental income is approximately $437,400 or higher, with projected investor returns between 9.5% and 11.4%. Rental rates are forecasted to increase by approximately 5% annually from 2026 through 2030, offering significant long-term growth potential. This location is poised to benefit from upcoming global events such as the 2026 FIFA World Cup and the 2028 Los Angeles Summer Olympics, which are expected to further boost real estate values across the city. 101 S. Mariposa Avenue presents an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
Lot/land
Listing Provided by:
Wei Chang DRE #01932054 626-217-3578,
AMERIWAY REALTY
Price cut: $90K (7/31)
$1,890,000
101 S Mariposa Ave, Los Angeles, CA 90004
--beds
--baths
4,796Square Feet
Unimproved Land
Built in ----
4,796 Square Feet Lot
$1,092,300 Zestimate®
$--/sqft
$-- HOA
What's special
Charming single-story bungalowContemporary finishesAmple driveway parkingFull sprinkler systemEnergy-efficient features
- 21 days
- on Zillow |
- 50 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: August 05, 2025 at 04:31pm
Listing Provided by:
Wei Chang DRE #01932054 626-217-3578,
AMERIWAY REALTY
Source: CRMLS,MLS#: CV25175491
Originating MLS: California Regional MLS

Travel times
Facts & features
Property
Features
- Has view: Yes
- View description: City Lights
Lot
- Size: 4,796 Square Feet
- Features: 0-1 Unit/Acre
Details
- Parcel number: 5518006003
- On leased land: Yes
- Lease amount: $0
- Zoning: LAR4
- Special conditions: Standard
Utilities & green energy
- Water: None
- Utilities for property: Water Not Available
Community & HOA
Community
- Features: Street Lights, Sidewalks
Location
- Region: Los Angeles
Financial & listing details
- Tax assessed value: $1,032,526
- Annual tax amount: $12,729
- Date on market: 8/5/2025
- Listing terms: Cash,Conventional,1031 Exchange
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