238 S Serrano Avenue
Los Angeles, CA 90004
- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1972 build
- – on site
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.
Last checked:
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Last updated Apr 9, 2025
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MLS# 25522929 —
The Building
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Year Built:1972
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New Construction:No
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Building Area Total:27250.00
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Total Number Of Units:51
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# of Buildings:1
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Stories Total:3
Interior
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Levels:Multi/Split
Location
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Directions:Excellent Koreatown Location, just east of Western Avenue and North of 3rd St.
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Latitude:34.06994600
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Longitude:-118.30632700
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:17891.0000
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Lot Size Dimensions:120x149
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Lot Size Acres:0.4107
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Lot Size SqFt:17891.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5517013026
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Community Structure
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Parking Spaces:53.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/8/25
Apr 8, 2025
|
Listed / Active | CRMLS_CA | $11,350,000 | 15.8% (7.2% / YR) |
|
1/25/23
Jan 25, 2023
|
CRMLS_CA | $9,800,000 | -14.8% | |
|
1/2/23
Jan 2, 2023
|
CRMLS_CA | $11,500,000 |
