Positioned just south of Santa Monica Boulevard between Normandie and Vermont Avenues, the property offers residents convenient access to everyday retail destinations, restaurants, services, and public transportation. The location is highly walkable, with multiple shopping centers within approximately 0.2 miles and the Vermont/Santa Monica Metro Station approximately a 10-minute walk from the building. Because all seismic retrofit repairs have already been completed by the current owner, a new investor is saved from an otherwise expensive maintenance item. The exterior was painted in 2026 and the main electrical panel was also recently upgraded. The building also features partial copper plumbing and a pitched roof. The property also offers several attractive investment characteristics, including commercial zoning with potential for future redevelopment, subject to verification of permitted uses and applicable city approvals. Three vacant units provide an incoming investor with immediate flexibility to renovate and reposition units or lease them at market rents, while the recently painted building, on-site laundry, parking, and storage enhance the property's physical appeal and resident amenities. With convenient access to the 101 Freeway and surrounding employment and entertainment hubs including Hollywood, Los Feliz, Silver Lake, Koreatown, and Downtown Los Angeles, 1049 N Mariposa Avenue offers a combination of immediate operational opportunity and long-term flexibility.