Property listed by Marcus & Millichap, Glen Scher 818-212-2700
$7,995,000
1536 N. Serrano Ave is a fee simple 42-unit LIHTC multifamily asset in East Hollywood. Built in 1969 and placed in service in 1997 under the 9% program, the property includes 41 income-restricted units and one manager's unit. The unit mix features large-family layouts with an average unit size of… Read More 1,441 SF. A 55-year regulatory agreement extends through 2052 with restrictions at 50% and 60% AMI. Subject to Los Angeles RSO. The three-story building sits over a gated, semi-subterranean garage with 72 secured spaces. Features include elevator access, courtyards, centralized mail, and a secure leasing office. Capital improvements include elevator upgrades (20212025), a Cool Roof (2017), LED lighting, and 15 renovated units. A central boiler, monitored fire sprinkler system, and updated electrical panels support long-term stability. As of July 2025, 61% of units are leased to Section 8 voucher holders. Delivered free and clear of debt. Walkable to Metro, Kaiser, and LACC. Read Less
Listing Snapshot
Days Online
57
Last Updated
Beds
99
Square Ft.
60,525
Lot Size
0.69 Acres
Year Built
1969
MLS Number
25563617
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1969, Living area: 60525.0, 1 building, 3 stories, Levels: ThreeOrMore
Community
Gated
Disclosures
RentControl
Heating
NaturalGas, WallFurnace
Income
Gross Income: $833,239, Net Operating Income: $484,908
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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