969 S Serrano Ave - Apartments FOR SALE


Los Angeles, CA 90006- Koreatown
$2,395,000 USD
310-739-3148
969 S Serrano Ave, Los Angeles, CA for Sale
$2,395,000 USD
Apartments - FOR SALE
1/17
null | 6% Cap Rate

969 S Serrano Ave
Los Angeles, CA 90006
Koreatown


HIGHLIGHTS

  • Excellent Koreatown Location!
  • 6.00% Cap Rate | 9.45 GRM | Strong In-Place Income
  • Unit Mix: 9 (1BR + 1BA), 2 (2BR + 1 BA), & 1 (Studio)
  • Walker's Paradise - Walk Score of 98! Moments from the Pio Pico Koreatown Library, Liberty Park, and the Wiltern Theatre
  • Master Metered for Gas & Electricity
  • Recent Building Upgrades Include: Copper Plumbing, New Roof, New Windows, New Heaters and Vents, Reinforced and Bolted Foundation

OVERVIEW

VartanianCRE of Lyon Stahl Investment Real Estate, Inc. proudly presents 969 S. Serrano Avenue, a well-maintained and gated 12-unit apartment community located in the highly desirable neighborhood of Koreatown—one of Los Angeles’ most dynamic and rapidly evolving rental markets. Built in 1925 and offering 9,210 square feet of living space on a 6,209 square foot lot, this classic two-story building features an attractive unit mix of nine (1-bedroom/1-bathroom) units, two (2-bedroom/1-bathroom) units, and one studio apartment. The property has been thoughtfully maintained and upgraded over the years, featuring full copper plumbing, a new roof installed three years ago, dual-pane windows throughout, and updated heating systems with new heaters and vents for improved efficiency and comfort. The foundation has been anchored with new sill plate bolts, and cripple walls have been reinforced with plywood for enhanced seismic safety. Common areas and most units have been renovated, providing a turnkey investment with minimal immediate capital needs. The building is master-metered for gas and electricity, streamlining management and reducing utility expenses for ownership. With a Walk Score of 98, its prime Koreatown location offers residents convenient access to public transportation, major employment centers, shopping, dining, and entertainment throughout Koreatown and nearby Downtown Los Angeles. With strong in-place income, modern upgrades, and continued rental upside, 969 S. Serrano Avenue presents an exceptional opportunity for investors seeking a stable, high-performing asset in one of Los Angeles’ most proven rental corridors. (Contact Listing Agent for Offering Memorandum).

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$260 USD /SF

# OF UNITS

12

PRICE/UNIT

$199,583

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Koreatown Multifamily | 12 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,229 SF

ZONING

R4, Los Angeles

APN/PARCEL ID

5080-015-014

ASK ABOUT THIS PROPERTY

Derrick VartanianLyon Stahl Investment Real Estate, Inc.More Info
310-739-3148

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Derrick VartanianLyon Stahl Investment Real Estate, Inc.More Info
310-739-3148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.