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Listing Details

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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 the Combined LA/Westside Multiple Listing Service as of 2021-09-19T23:42:22.94. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/96714114
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1376 N Serrano Ave Los Angeles, CA 90027

  • Price: $4,200,000
  • Status: Active
  • MLS #: 19-486830
16
Beds
0
Baths
0
½ Baths
N/A
Acres
9,042
SQFT
$464
$/SQFT
1958
Built
Neighborhood:
Hollywood
County:
Los Angeles
Area:
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 Area 8705 Other Structures None Parking Garage Other Total Parking 6

Interior Features

Baths Total 14.00 Cooling Air ConditioningCeiling Fan Equipment Ceiling Fan Heating Wall

Property Features

Gross Income 232531 Gross Operating Income 239692 Like Units1 12 Like Units2 2 Net Operating Income 140417.00 Number Of Buildings 1 Number Of Units 14 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 92114 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lar4

Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-19T23:42:22.94. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253