MarketPier

1157 S SERRANO Avenue - Los Angeles, CA 90006

$1,950,000
Listing Description

We are pleased to present the exclusive listing of an eight-unit apartment building located at 1157 S Serrano Ave, just south of Olympic Blvd and east of Western. This centrally located 1960s property boasts a stellar unit mix of four 1 bedroom/1 bathroom units, three 2 bedroom/1 bathroom units and one studio/1 bathroom. Many of the units have been tastefully remodeled keeping with the mid-century feel. Additionally, the building has gated parking, individual storage, with balconies in some of the units. With an excellent walk score of 82, this asset is just a few blocks down the street from Koreatown and Wilton Place Park, along with many trendy dining spots including; Firefly, Uni Luv Restaurant, Sanya Korean BBQ, and Road to Seoul. According to David Chang, the world-renowned chef and founder of the Momofuku Restaurant Group, Koreatown is the most exciting place to eat in America, making it a hot spot for foodies.

Listing Information
MLS Number
18413780
APN/Parcel ID
5080013001
Type
Multifamily
Sub Type
Multifamily
Building Size
6,334 sqft
Lot Size
6,214 sqft
Price / SQFT
$308
No Units
8
Price / Unit
$243,750
Gross Income
$113,795
Total Expenses
$40,221
Net Income
$73,574
Rent Multiplier
16.63
Listing Date
12/6/2018
Days Active
2
Last Updated
12/9/2018
Listing Provided By
Joshua Ross
Marcus & Millichap
BRE# 01918715

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