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    1376 N Serrano Avenue

    Los Angeles (City), CA 90027
    • $4,200,000
    • STATUS: Active
    • ON SITE: 397 days
    • ID#: 19486830
    UPDATED: 19 min ago
    $4,200,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    We are pleased to announce the sale of 1376 N Serrano Avenue, a 14-unit multifamily property located in Hollywood, less than one block from Sunset Boulevard. Tenants are also within walking distance of Paseo Plaza, another potential development that could feature 300,000 square feet of shopping centers along Santa Monica Boulevard. A new owner can take advantage of the neighborhood's rapid improvements and potentially recapture the approximately 24% in rent upside, as current rents already sit below those of similar units in this submarket. The building currently features wood flooring, granite countertops and remodeled bathrooms in select units. An on-site laundry room provides a boost to the owner's income. The 9,042 square foot building was constructed in 1958 and includes both one- and two-bedroom units. Tenants benefit from on-site parking as well as the property's proximity to the 101 Freeway and the Metro Red Line.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-08-11T20:31:30.66. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

    www.sellinglasouthbay.com/homes/96715159
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    1376 N Serrano Avenue Los Angeles (City), CA 90027

    • Price: $4,200,000
    • Status: Active
    • Updated: 19 min ago
    • ID#: 19486830
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    1958
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    We are pleased to announce the sale of 1376 N Serrano Avenue, a 14-unit multifamily property located in Hollywood, less than one block from Sunset Boulevard. Tenants are also within walking distance of Paseo Plaza, another potential development that could feature 300,000 square feet of shopping centers along Santa Monica Boulevard. A new owner can take advantage of the neighborhood's rapid improvements and potentially recapture the approximately 24% in rent upside, as current rents already sit below those of similar units in this submarket. The building currently features wood flooring, granite countertops and remodeled bathrooms in select units. An on-site laundry room provides a boost to the owner's income. The 9,042 square foot building was constructed in 1958 and includes both one- and two-bedroom units. Tenants benefit from on-site parking as well as the property's proximity to the 101 Freeway and the Metro Red Line.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Heating Wall Furnace Heating YN Yes

    Property Features

    Gross Income 232531.00 Gross Multiplier 17.52 Gross Operating Income 239692.00 Net Operating Income 140417.00 Senior Community YN No Special Listing Conditions Standard Sprinklers YN No Total Expenses 92114.00 Zoning Lar4

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-08-11T20:31:30.66. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.

     
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    Wendy Rich-Soto and Associates | Keller Williams Realty, LA Harbor
    28901 S. Western Avenue #139
    Rancho Palos Verdes CA, 90731