709 South Mariposa Avenue

Two Properties in Koreatown that were Previously Gut Renovated

Available as a Package or Separately

Prime Location, Steps from Wilshire Boulevard

Excellent Amenities and Gorgeous Architecture

95 Walk Score-Walker’s Paradise

Situated in a Designated Qualified Opportunity Zone & R5-2 Zoning

Also Available-A parking lot that is an entitled development site for 44 units at 709 S Mariposa Avenue

720 S. Normandie Ave. and 709 S. Mariposa Ave. consist of two apartment buildings situated on adjacent street that back up to each other through a parking lot at 715 S. Mariposa that is also available for sale.

709 S. Mariposa is a 40-unit apartment building consisting of six units that are efficiencies, 28 units that are studios with a full kitchen and six units that are one-bedrooms with one-bathroom. The property is individually metered for electricity and master-metered for gas.

720 S. Normandie is a 61-unit apartment building consisting of 34 units that are studios with a full kitchen, 13 units that are one-bedrooms with one-bathroom, and 14 units that are two-bedrooms with two-bathrooms. The property is individually metered for electricity.

Both properties are center hallway structures of reinforced brick that are serviced by two staircases at Mariposa or three staircases at Normandie plus one elevator per property. Normandie boasts a massive ornate lobby, leasing office, fitness center, dog run, two courtyards, and a deluxe laundry center plus a lounge. The Mariposa property has an art deco lobby, a massive laundry room and a gazebo in a courtyard located on the south side of the property.

The properties are offered for sale as a package for $22,500,000. However, 720 S. Normandie can be sold separately for $14,750,000 and 709 S. Mariposa can be sold separately for $7,750,000.

Also Available-A parking lot at 715 S Mariposa which is an existing 31 space parking lot entitled for 44-units. This property is adjacent to 709 S. Mariposa but also has a walkway connecting it with 720 S. Normandie. Plans have been submitted to the city of Los Angeles and are currently in plan check. The asking price is $3,000,000.

720 South Normandie, called The Chalfonte, is an architecturally distinct classic 61-unit apartment building consisting of 34 studios with a full kitchen and one-bathroom, 13 one-bedroom apartments with one-bathroom and 14 apartments that are two-bedrooms with two-bathrooms. The property is individually metered for electricity and master-metered for gas. The property is adjacent to 715 South Mariposa through the rear of the property. Chalfonte features a massive, ornate, restored lobby and center hallways serviced by an elevator and two staircases. The property has been gut renovated around 2002 by a previous owner and the units have been completely restored and brought to modern standards, however, there are numerous opportunities for cosmetic updates. In addition to a massive lobby, the property features a state-of-the-art laundry facility with a separate waiting area, a very large gym featuring a massive amount of equipment, including free weights, and a leasing center. The structure is of five-story reinforced brick. Buyer to independently verify renovations and upgrades performed to the property.

709 S. Mariposa is a 40-unit apartment building consisting of six efficiency units with one-bathroom, 28 studios apartments with one-bathroom and a kitchen and six units that are one-bedrooms with one-bathroom. The four-story structure contains a large partially utilized basement that is on-grade with the parking lot. There is an attractive art deco lobby in a four-story structure serviced by two staircases and an elevator. Units are individually metered for gas and electricity. Similar to 720 S. Normandie, the property was gut renovated around 2002 by a previous owner and the units have been completely restored and brought to modern standards, however, there are numerous opportunities for cosmetic updates.

No parking or parking lots are included in the sale, however, there is a parking lot that is also for sale that can be combined with these two apartment buildings. 715 S. Mariposa is an entitled 44-unit development site on an 8,100 square foot lot zone R5-2 this is currently an existing 31 space parking lot. The plans have been submitted to the city and are currently in plan check. The asking price is $3,000,000.