$11,350,000
238 Serrano Avenue, Los Angeles 90004
3
Beds
4
Baths
27,250
Square feet
17,891
Lot Size
51
# Of Units
Listing Agent
Adam Zunder - Iconic InvestmentsWe 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.
Facts & Features
| MLS® # | 25522929 |
|---|---|
| Price | $11,350,000 |
| Bedrooms | 3 |
| Bathrooms | 4.00 |
| Square Footage | 27,250 |
| Lot Size | 17,891 |
| Year Built | 1972 |
| Type | Residential Income |
| Status | Active |
| # Of Units | 51 |
Community Information
| Address | 238 Serrano Avenue |
|---|---|
| Area | C17 - Mid-Wilshire |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90004 |
Amenities
| Parking Spaces | 53 |
|---|---|
| Parking | Community Structure |
| Garages | Community Structure |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | Wall/Window Unit(s) |
| Has Basement | No |
| Fireplace | No |
| # of Stories | 3 |
| Stories | Multi/Split |
Additional Information
| Date Listed | April 8th, 2025 |
|---|---|
| Days on Market | 18 |
| Zoning | LAR3 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Adam Zunder |
|---|---|
| Office | Iconic Investments |