CA > Los Angeles
Los Angeles, CA 90004,238 S Serrano AVE
Los Angeles, CA 90004,238 S Serrano AVE
Los Angeles, CA 90004,238 S Serrano AVE
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$11,350,000
Est. payment /mo
32 Beds
52 Baths
27,250 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 27,250 sqft

Price per Sqft $416

MLS Listing ID 25522929

Bedrooms 32

HOA Y/N No

Year Built 1972

Lot Size 0.411 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features Community Structure

Total Parking Spaces 53

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5517013026

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Adam Zunder • Iconic Investments
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"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

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