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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$3,900,000

Est. payment - /mo

24 Beds

24 Baths

13,716 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 13,716 sqft

Price per Sqft $284

MLS Listing ID 24421525

Bedrooms 24

HOA Y/N No

Year Built 1923

Lot Size 5,445 Sqft

Property Description

1000 N. Serrano is a 13,716 SF 3-story complex featuring (24) 1-bdrm. units. The property is offered at 6.75% CAP and 8.63 GRM on current rents, $162,500 per unit, and $284 per foot. There is approx. 52% rental upside compared to renovated units in the area. This value-add opportunity will stabilize at a 12.53% CAP and 5.68 GRM at projected market rents. 1000 N. Serrano is located minutes from the heart of Hollywood. Located just south of Santa Monica Blvd, the property is near several large-scale production studios such as Sunset Gower Studios, Paramount Studios, Netflix, an array of retailers, cafes, and restaurants along Sunset Blvd. In addition, 1000 N. Serrano is 1 mile south of the Hollywood/Western Metro Red Line Station, and is close to several major thoroughfares including Sunset Blvd, Hollywood Blvd, and the 101 Freeway. Property amenities include gated entry and a community laundry room. 1000 N. Serrano can be purchased individually or as part of a 5-property portfolio in Melrose Hill and Westlake. Please contact LA1 for more information.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LARD1.5

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features None

Community Features Gated

View Y/N No

View None

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5536026003

Security Features Gated Community

Special Listing Condition Standard

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Listed by Max Berger • Compass

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1000 N Serrano AVE Los Angeles, CA 90029