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 full 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. Similar co-living suite prices in Koreatown typically range from $1,300 to $1,500 per month, providing a compelling income model. The estimated annual rental income is approximately $437,400 or higher, with projected investor returns between 9.5% and 11.4%.
Importantly, this property is located in a non-rent-controlled area, providing greater flexibility and advantage for rental income growth compared to rent-controlled zones. Rental rates are forecasted to increase by approximately 5% annually from 2026 through 2030, offering significant long-term growth potential.
Furthermore, 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 offers an outstanding opportunity to invest in a high-demand, centrally located project ready for immediate development and long-term success.
For sale
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
27beds
27baths
8,656sqft
Est.:
Multi Family
Built in 1910
-- sqft lot
$1,842,500 Zestimate®
$218/sqft
$-- HOA
What's special
Contemporary finishesWelcoming front deckAmple driveway parkingFull sprinkler systemEnergy-efficient features
- 64 days
- on Zillow |
- 89 |
- 3 |
Zillow last checked: 7 hours ago
Listing updated: July 31, 2025 at 11:34am
Listing Provided by:
Wei Chang DRE #01932054 626-217-3578,
AMERIWAY REALTY
Source: CRMLS,MLS#: CV25091361
Originating MLS: California Regional MLS

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Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 27
- Bathrooms: 27
Appliances
- Laundry: Outside
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 8,656
- Total interior livable area: 8,656 sqft
Property
Features
- Entry location: STREET LEVEL
- Pool features: None
Lot
- Size: 4,796 Square Feet
- Features: 0-1 Unit/Acre
Details
- Parcel number: 5518006003
- On leased land: Yes
- Lease amount: $0
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- New construction: No
- Year built: 1910
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Street Lights, Sidewalks
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $218/sqft
- Tax assessed value: $1,032,526
- Annual tax amount: $12,729
- Date on market: 4/29/2025
- Listing terms: Cash,Conventional,1031 Exchange
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