Property listed by Keller Williams R. E. Services, Kirk Garabedian 818-298-8810
$1,200,000
We are pleased to present 209–211 N. Serrano Avenue, an attractive, 100% occupied triplex investment opportunity situated in a desirable residential pocket of Central Los Angeles. The property offers an appealing combination of immediate cash flow, newer construction, and rental upside in a well-established neighborhood.
Situated on a 6,564-square-foot lot, the… Read More property consists of a charming original 1919 front residence and a newly constructed two-story rear building, which received its Certificate of Occupancy in July 2024. The three residential units comprise approximately 2,749 square feet of living area, featuring a total of five bedrooms and five bathrooms. The property blends the architectural character of a traditional Los Angeles residence with the advantages of modern residential construction.
Currently generating $95,160 in annual scheduled rental income, the property offers an estimated 5.68% current capitalization rate, with projected market rents supporting a 6.34% pro forma capitalization rate and approximately 8.4% potential rental income growth, based on the stated operating assumptions.
The property is conveniently located near Larchmont Village, Hancock Park, Koreatown, and Hollywood, offering residents easy access to popular restaurants, cafés, shopping, entertainment, and major employment centers. The surrounding neighborhood features a blend of charming historic homes, established multifamily properties, and newer residential developments, providing an attractive residential setting with excellent urban accessibility.
With its 2024 rear construction, established tenancy, strong in-place income, and potential for future rental growth, 209–211 N. Serrano Avenue presents a compelling opportunity for investors seeking a well-located residential income property with both immediate returns and long-term investment potential. Read Less
Listing Snapshot
Days Online
9
Last Updated
Property Type
Triplex
Square Ft.
2,749
Lot Size
0.15 Acres
Year Built
2024
MLS Number
GD26236164
Additional Details
Building
Built in 2024, 2 buildings, 2 stories, Levels: One, Two, Entry level: 1, Entry location: 3
Community
Biking
Expenses
Operating: $25,044
Heating
Central, EnergyStarQualifiedEquipment
Income
Gross Income: $95,160, Gross ScheduledIncome: $95,160, Net Operating Income: $68,213
Laundry
Inside
Lot
0.1507 acres, RectangularLot, StreetLevel
Parking
3 open parking spaces, 3 total parking spaces, None
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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