616 N Mariposa Ave, Los Angeles, CA 90004

Description

Fully leased with actual rents! Located in an Opportunity Zone, 616 N. Mariposa Ave is a brand-new, architecturally striking fourplex that combines luxury design with exceptional long-term investment potential in one of Los Angeles' strongest rental markets. Each thoughtfully designed residence offers 3 spacious bedrooms and 3.5 bathrooms with en-suite baths, custom closet systems, expansive open-concept living areas, and premium designer finishes throughout. Chef's kitchens feature custom white oak cabinetry, under-cabinet lighting, waterfall marble islands with full miter edges, premium stainless steel appliances, and abundant storage. Every unit includes a refrigerator, dishwasher, range, washer and dryer, paid-off solar, EV-ready infrastructure, separate utility metering, smart home technology, Ring security, Nest thermostats, and integrated network wiring. Floor-to-ceiling aluminum windows, multiple private balconies, and exclusive rear yards create an elevated residential experience rarely found in new construction. Unlike many newer developments that sacrifice living space to maximize bedroom count, these homes offer oversized, functional floor plans designed for today's renters. Beyond its exceptional in-place income, the property offers one of the most compelling value-add opportunities available in the market. The existing garage configuration presents the potential to convert both garages into ADUs while maintaining ample on-site parking, increasing the property from 4 to 6 units and expanding the rentable living area to approximately 6,737 square feet. Based on conservative projections, this improvement has the potential to increase the stabilized cap rate from approximately 6.06% to 7.75%, creating substantial additional value and long-term cash flow. The fully enclosed property features custom wrought iron gates with automatic entry, new vinyl fencing, and includes a one-year builder warranty for added peace of mind. This non-rent-control asset offers immediate flexibility for investors seeking either maximum rental income or a premium value-add strategy. Ideally situated just minutes from Larchmont Village, Hollywood, Silver Lake, Koreatown, and major employment centers, 616 N. Mariposa Ave represents a rare opportunity to acquire a trophy-quality new construction asset with significant built-in appreciation potential through future ADU expansion.