Property listed by Lyon Stahl Investment Real Estate, Inc., Derrick Vartanian 310-425-9838
$2,295,000
We proudly present 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… Read More 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. Read Less
Listing Snapshot
Days Online
27
Last Updated
Beds
9
Square Ft.
9,210
Lot Size
0.14 Acres
Year Built
1928
MLS Number
25609687
Additional Details
Building
Built in 1928, Living area: 9210.0, 1 building, 2 stories, Levels: Two
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross Income: $253,533, Net Operating Income: $144,875
Lot
0.1426 acres, Dimensions: 46x135
Parking
OnStreet
Taxes
Parcel Number: 5080015014, Zoning: LAR4
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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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