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238 S Serrano Ave, Los Angeles, CA 90004

List Price: $11,350,000On Market FlagOn market
Apr 8, 202527,250 sqft32 beds52 baths
Listed by: Adam Zunder
License #: 01821053
Phone #: 747-214-0470
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Source:
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MLS #: 25522929

Property Description

We 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.
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Kevin Kretzmer
Kevin Kretzmer

Role: TurboHome Head Agent

Experience: 10 years

No. of Transactions: 227

“I specialize in helping clients find their dream home or next investment in California, focusing on residential and multi-family properties. My client-first approach, clear communication, and attention to detail ensure that everyone I work with receives exceptional service.”

TurboHome Fair Market Estimate

TurboHome

TurboHome Savings

$82,638

TurboHome Estimated Value

$8,429,600

$309 sqft

High Valuation
$8,851,080
$325/sqft
Normal Valuation
$8,429,600
$309/sqft
Low Valuation
$8,008,120
$294/sqft

3rd Party Estimates

Source$/sqftValuation
HouseCanary$309/sqft$8,429,600

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