923 N Mariposa AVE
HOLLYWOOD CA, 90029
$588.62 per sqft
Built in 2023
923 N Mariposa Ave is an ultra-premium non-rent controlled OZ new construction 6-unit in trendy East Hollywood that is ready to close soon: a dream come true for 1031 exchange & opportunity zone buyers! CofO has not been received yet, allowing time for an opportunity zone closing. It s important to note, the same builder has leased out a sister building (same finishes & bed/bath count) also on Mariposa at rents of $5,900 & $5,200! Based on this, we project a 5.58% cap rate on this property once complete! Additionally, the owner is willing to construct ADU s on site if desired by the buyer (at an added cost). The buyer can choose between 1, 2 or 3 ADU s. If 3 are constructed, we expect an extra $72,000 of annual gross rent! With potential for 9 luxury units, this is a deal you don t want to miss. This 2023 construction masterpiece is comprised of six enormous tri-level townhomes that have been upgraded in every sense. The owner cherry picked each & every finish inside & out! 923 N Mariposa will be delivered with a lengthy list of amenities, including: 1. It comes fully loaded with washers + dryers, premium kitchen appliances, & landscaping. Totally turnkey! 2. It features an UNHEARD of 14 parking spaces: 6 garage spaces, 6 permitted driveway spaces & 2 bonus driveway spaces in the front. 3. The kitchens boast upscale tundra marble counter tops & cabinetry. 4. All bathrooms are unique & feature hand-selected tiles, mirrors, shower doors, and calacatta marble vanities. None of the generic, carbon copy stuff so many builders use! 5. It wows with custom 7.5 doors. 6. The exterior of the property is multidimensional and boasts massive windows, impressive wood-like cladding surrounding all first level exterior walls, smooth stucco, impeccable landscaping with up lighting, and balconies. 7. It will be delivered with plans to add 3 additional ADU units by converting the existing garages... adding UPSIDE to this already high return investment property! (Or the seller can do the work!) Our rental team has found that new construction properties with more designer finishes attract premium quality tenants at higher prices much faster than more generic new builds. In addition to the impressive return and designer appeal, buyers will enjoy other notable perks including: NO RENT CONTROL, a 1-year builder s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come.
August 17, 2023
November 11, 2023
923 N Mariposa AVE
HOLLYWOOD CA, 90029
Microwave, Oven-Gas, Range
Dryer, Dryer Included, Inside, Washer, Washer Hookup, Washer Included
Family Room, Kitchen, Living Room
Other Property Details
Days on Market
Courtesy of Elizabeth Maddox with The 2-4 Unit Specialists
Listing Contact: [email protected]
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Data last updated 11/11/2023