709 S. Mariposa Avenue

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No. Units:101
Building Size:78,438 SF
Property Type:Multifamily
Property Sub-type:Mid/High-Rise
Property Use Type:Investment
Cap Rate:6.38%
Gross Rent Multiplier:9.69
Year Built:1924

720 South Normandie and 709 South Mariposa consist of two apartment buildings with two parking lots situated on separate streets that back up to each other.

709 South 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. 709 South Normandie has access to 720 South Normandie through the adjacent parking lot immediately to the south of 709 South Mariposa. The property features a lobby and center hallways serviced by an elevator and two stair cases. The structure is of four-story reinforced brick. The property is adjacent to 701 South Mariposa which is also for sale.

The address of the Mariposa parking lot is 715 South Mariposa which is located immediately to the south of 709 South Mariposa. The parking lot is zoned R5-2 which is a rare high density zoning with no height limit.