Property Details

333 S Serrano Ave, Los Angeles, CA, 90020

$2,000,000buy

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About This Property

This 10-unit, value-add apartment building is located at 333 S. Serrano Avenue in the highly desirable Koreatown neighborhood of Los Angeles. Known as The Serrano by Three Apartments, the property was built in 1961 and spans approximately 9,480 square feet. The building is well-situated just south of 3rd Street and two blocks east of Western Avenue, offering residents easy access to the Wilshire/Western Metro Station, as well as shopping, entertainment, and other major Los Angeles submarkets.

The property features a mix of two 1-bedroom/1-bathroom units (20%) and eight 2-bedroom/2-bathroom units (80%). The units have a large average size of 940 square feet. The building provides 14 on-grade parking spaces and has been seismically retrofitted. Utilities for each unit are individually metered for both gas and electric.

The property has an in-place cap rate of 5% with a potential upside to 8.48%. New ownership has the opportunity to achieve higher rents by extensively renovating the units and common areas.

Property Details

  • Property Size 9480 ft2
  • Total Rooms 18
  • Bedrooms 18
  • Bathrooms 18
  • Garage 18
  • Year Build 1961

Property Features

  • 24/7 CC Tv
  • Air conditioning
  • Back Yard
  • Balcony
  • Dining Space
  • Front Yard
  • Ground
  • High Speed Wifi
  • Parking

Property Video

Property Location