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1000 N Serrano Ave
Los Angeles, CA 90029
Residential Multi Family (Other)
N/A Acres
13716 Sqft Living Area
24 Bedrooms
0 Bathrooms (0 Full, 0 Half)
Year Built: 1923
$3,900,000
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Property Description
1000 N. Serrano is a 13,716 SF 3-story complex featuring (24) 1-bdrm. units. The property is offered at 6.75% CAP and 8.63 GRM on current rents, $162,500 per unit, and $284 per foot. There is approx. 52% rental upside compared to renovated units in the area. This value-add opportunity will stabilize at a 12.53% CAP and 5.68 GRM at projected market rents. 1000 N. Serrano is located minutes from the heart of Hollywood. Located just south of Santa Monica Blvd, the property is near several large-scale production studios such as Sunset Gower Studios, Paramount Studios, Netflix, an array of retailers, cafes, and restaurants along Sunset Blvd. In addition, 1000 N. Serrano is 1 mile south of the Hollywood/Western Metro Red Line Station, and is close to several major thoroughfares including Sunset Blvd, Hollywood Blvd, and the 101 Freeway. Property amenities include gated entry and a community laundry room. 1000 N. Serrano can be purchased individually or as part of a 5-property portfolio in Melrose Hill and Westlake. Please contact LA1 for more information.
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Contact Details
Name: Max Berger
Email: max@kennystevensteam.com
MLS Listing Id: 24-421525
Agent Phone: (310) 230-5478
List Agent License:
Office Name: Compass
Office Phone: (310) 230-5478
Office MLS Id: X81461
Listing Status: Active
Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Copyright © 2024 OpenHous, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
