1376 N Serrano Avenue

    Los Angeles (City), CA 90027
    • $4,200,000
    • STATUS: Active
    • ON SITE: 265 days
    • MLS #: 19486830
    UPDATED: 47 min ago
    $4,200,000
    • 16
      BEDS
    • 0.2
      ACRES
    • 14
      BATHS
    • 0
      1/2 BATHS
    • 9,042
      SQFT
    • $464
      $/SQFT
    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.

    Monthly Payment Calculator



    Based on information from CRISNet MLS as of 2020-04-01T07:42:50.833. 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.

    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-04-01T07:42:50.833. 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.

    Based on information from the Conejo Simi Moorpark Association of Realtors as of 2020-04-01T07:42:50.833. 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.

    Based on information from the i-Tech MLS as of 2020-04-01T07:42:50.833. 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.

    Licensed in the State of California, USA.
    www.desertarealuxuryhomes.com/homes/96714114

    1376 N Serrano Avenue Los Angeles (City), CA 90027

    • Price: $4,200,000
    • Status: Active
    • Updated: 47 min ago
    • MLS #: 19486830
    16
    Beds
    14
    Baths
    0
    ½ Baths
    0.2
    Acres
    9,042
    SQFT
    $464
    $/SQFT
    1958
    Built
    Neighborhood:
    Hollywood (C20)
    County:
    Los Angeles
    Area:
    Hollywood (C20)
    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

    Parking Spaces Total 6 Parking Type Other

    Interior Features

    Cooling Type Air ConditioningCeiling Fan(S) Heating Type Wall Heater Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Partially Unit Furnished04 Partially Unit Furnished05 Partially Unit Furnished06 Partially Unit Furnished07 Partially Unit Furnished08 Partially Unit Furnished09 Partially Unit Furnished10 Partially Unit Furnished11 Partially Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bed01 1 Unit Number Of Bed02 2

    Property Features

    Adjusted Gross Income 232531.00 Assessed Improvement Value 804699.00 Assessed Land Value 600519.00 Cap Rate 3.34 Country United States Of America Expense Total Annual 92114.00 Gross Operating Income 239692.00 Gross Rent Multiplier 17.52 Hoa YN N Legal Disclosures No Property Assessments Lot Size Source Public Records Net Operating Income 140417.00 Number Of Buildings 1 Special Conditions Standard Sale Square Footage Source Public Records Unit Monthly Rent01 1328.00 Unit Monthly Rent02 1975.00 Unit Projected Total Monthly Rent01 20340.00 Unit Projected Total Monthly Rent02 4390.00 Unit Total Monthly Rent01 15941.00 Unit Total Monthly Rent02 3950.00 Unit Type01 12 Unit Type02 2 Units Total In Complex 14 Zoning Lar4

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


    Based on information from CRISNet MLS as of 2020-04-01T07:42:50.833. 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.

    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-04-01T07:42:50.833. 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.

    Based on information from the Conejo Simi Moorpark Association of Realtors as of 2020-04-01T07:42:50.833. 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.

    Based on information from the i-Tech MLS as of 2020-04-01T07:42:50.833. 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.

    Licensed in the State of California, USA.
     
    The Sandi Phillips Team | Compass
    74199 El Paseo, Suite 200
    Palm Desert CA, 92260