$3,900,000
1000 N Serrano AVE Los Angeles, CA 90029
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$3,900,000
Est. payment /mo
24 BD
24 BA
13,716 SqFt
Pending
1000 N Serrano AVE Los Angeles, CA 90029
UPDATED:
09/30/2024 06:53 PM
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 13,716 sqft
Price per Sqft $284
MLS Listing ID 24421525
Bedrooms 24
HOA Y/N No
Year Built 1923
Lot Size 5,445 Sqft
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.
Location
State CA
County Los Angeles
Area C20 - Hollywood
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features None
Community Features Gated
View Y/N No
View None
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5536026003
Security Features Gated Community
Special Listing Condition Standard
Listed by Max Berger • Compass
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