616 North Mariposa Ave Avenue, Los Angeles, CA 90004
616 North Mariposa Ave Avenue, Los Angeles, CA 90004
616 North Mariposa Ave Avenue, Los Angeles, CA 90004
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John R Thompson

John R Thompson

+1(805) 796-5221
Listed by Drew Dunn • Four Brothers Real Estate, Inc.
$3,065,000
Est. payment /mo
6,106 SqFt
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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 6,106 sqft

Price per Sqft $501

MLS Listing ID OC-26164658

Style Contemporary

Year Built 2025

Lot Size 7,124 Sqft

Property Sub-Type Quadruplex

Source California Regional Multiple Listing Service (CRMLS)

Property Description

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 6.08% 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.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Interior Features Built-In Features, Balcony, Living Room Balcony, Living Room Deck Attached, Open Floorplan, Recessed Lighting, Wired for Data

Heating Central

Flooring Vinyl, Wood

Fireplaces Type None

Laundry Dryer Included, Electric Dryer Hookup, Inside, Washer Hookup, Washer Included

Exterior

Parking Features Garage, Garage - Three Door, Garage Door Opener, On Site, Side by Side, Tandem Garage, Tandem Uncovered

Garage Spaces 4.0

Pool None

Community Features Street Lights

View Y/N Yes

View City Lights

Building

Lot Description Front Yard, Landscaped, Lawn, Level with Street

Sewer Public Sewer

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John R Thompson

John R Thompson

+1(805) 796-5221

Broker/Owner | License ID: 01200900

Broker/Owner License ID: 01200900

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616 North Mariposa Ave Avenue