$ 11,350,000
-
$11,350,000
Price -
3
Bed -
4
Bath -
27,250
SqFt
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About the Listing CLW-X80599 - CLW-C106558
We are pleased to present for sale, The Serrano, located at 238 S. Serrano Ave. This prime Koreatown location is just north of 3rd Street and east of Western Ave., offering easy access to the Wilshire/Western Metro Station, shopping, and entertainment. The Serrano Apartments features 51 units with 23 Studios, 27 one-bedrooms, and 1 two-bedroom. The property has an on-grade parking garage with 41 single and 6 tandem parking spaces (53 total). Utilities are individually metered for electric and master-metered for gas. New ownership can take a different approach and achieve higher rents by extensively renovating units and common areas attracting millennial tenants who have proven to pay more for luxury units. The building is a very short walk to all that Koreatown has to offer. This is a great opportunity to acquire The Serrano Apartments with an in-place cap rate of 5.54%, a GRM of 11.77, with upside to a 7.15% cap rate and a 9.85 GRM.
Listing Highlights for 238 S Serrano Ave
Status
Active
Days on Site
150
Property Type
Multi-Family
MLS ®
25522929
Year Built
1972
Total Square Footage
27,250
Lot/Acreage
0.41
County
Los Angeles
Area
C17 - Mid-Wilshire
Interior Details
- Bedrooms: 3
- Bathrooms: 4 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 53
- Zoning: LAR3
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Community Structure
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5517013026
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Listing Location
Questions About..
238 S Serrano Ave Los Angeles, CA 90004
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