We are pleased to present 238 S Serrano Ave, a robust multi-family investment opportunity with 32%+ rental upside potential, located in the bustling Mid-Wilshire/Koreatown submarket of Los Angeles, just east of Western Ave and north of 3rd St. Built in 1972, the building is comprised of 51 units, including 23 singles, 27 (1+1), and 1 (2+2) units that average approximately 534 gross square feet. The 27,252 square foot structure is situated on a 17,886 square foot LAR3-1 zoned lot. The building's units offer features including air conditioning and heat, tub/showers, garbage disposals, full kitchens with range ovens and refrigerators, vinyl flooring, and family rooms. Some units include built-in bookshelves and balconies, and select units have been renovated to include new laminate wood flooring, reglazed countertops, and designer pulls & facets. The property features a bright front lobby with secured entry and floor-to-ceiling windows and gated parking with 41 spaces, providing convenient vehicle storage for residents. The property is separately metered for gas and electric, and there is a laundry facility on-site for added convenience. With an outstanding Walk Score of 97, 238 S Serrano Ave's Koreatown location offers residents unmatched access to career centers, educational institutions, restaurants, nightlife destinations, and shopping, all within one of the most walkable and high-demand locations in Southern California. The property is also conveniently located just 0.7 miles from the Metro Purple D Line Wilshire/Western station, ensuring easy access to the city's extensive transit network and other LA attractions. Strategically positioned in the heart of Koreatown, 238 S Serrano Ave is a well-maintained asset in a vibrant and centrally situated submarket, offering an astute investor the potential significant appreciation and strong returns supported by high tenant demand for a quality living experience in one of Los Angeles's most dynamic neighborhoods.
Based on information from CRISNet MLS all data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Updated: 8th December, 2023 5:34 PM (UTC)