238 S Serrano Avenue, Los Angeles, CA 90004

About this property

238 South Serrano Avenue is a once-in-lifetime opportunity to purchase a fifty-one (51) apartment unit building in the epicenter of Koreatown. The property was built in 1972 using wood frame and stucco construction on 17,886 square feet of land. The property showcases a diverse unit mix of studio, one-bedroom, and two-bedroom units with interior finishes such as updated cabinetry, vinyl wood flooring, and new coat of paint. Tenants have access to an on-site laundry room as well as gated parking for forty-one (41) spaces. In addition, the apartment boasts a 95 Walk Score which enables tenants to complete daily errands without requiring a car. Lastly, ten (10) units will be delivered vacant at the close of escrow which will enable a prospective buyer to immediately lease up the units at market rate and capture more than 35% rental upside.

Listing description from the January 2023 sale, as reported to CRMLS.

Sale history

$9,800,000

Sold January 2023 · listed $11,500,000, on market December 2022 · MLS #22223195 · Source: CRMLS

Listing Agent: Andres Diaz · Listing Office: Keller Williams Downtown LA · Contact: 213-797-7000 · Bought with: Andres Diaz · Keller Williams Downtown LA

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