1213 Mariposa Street

GLENDALE - 5 UNITS - FIXER - CASH OR HARD MONEY ONLY. INCREDIBLE OPPORTUNITY, AMAZING PRICE FOR A REAL FIVE UNIT BUILDING. FIX AND SAVE. PRIME GLENDALE ADAMS HILL/ADAMS SQUARE MULTI UNIT FIXER. HUGE UPSIDE POTENTIAL!! FIRST TIME ON THE MARKET IN 25+ YEARS. UNDER MARKET RENTS – TREMENDOUS POSSIBILITIES. ZONED GLR4YY.… Five units total PLUS a converted garage studio. Breakdown is as follows: One - 3 bedroom/2 bath front house (VACANT). One - 1 bedroom/1 bath unit (LEASED). THREE separate studio units (TWO ON MONTH TO MONTH and one gutted/vacant), plus a converted garage studio (WILL BE DELIVERED VACANT after COE). One of the studio units is vacant and gutted, and ready to be renovated. NEWLY UPDATED 1 BED/1 BATH UNIT - JUST REDONE (SEE NEW PICS). Lots of room for improvement. THREE total structures on the lot. Please do not disturb tenants or go on property. Front house built in 1912 - middle units built in the 1950's with a BRAND NEW ROOF INSTALLED ON BUILDING 2 - with the stand alone unit built in 1960's. DO NOT MISS YOUR CHANCE!! Active rents at this time are approximately $3787 TOTAL per month BUT this does not include newly vacant front house (which will easily double incoming rents), plus detached studio. CASH/HARD MONEY OR VERY STRONG DOWNPAYMENT ONLY AS THIS IS WILL REQUIRE A COMMERCIAL LOAN BECAUSE IT IS 5 UNITS. Read More