$11,350,000

238 S Serrano Ave Los Angeles, CA 90004

Koreatown Neighborhood

Estimated payment $71,289/month

Total Views 4,419
32 Beds
52 Baths
27,250 Sq Ft
$417 Price per Sq Ft

About This Home

We are pleased to present for sale, The Serrano, located at 238 S. Serrano Ave. This prime Koreatown location is just north of 3rd Street and east of Western Ave., offering easy access to the Wilshire/Western Metro Station, shopping, and entertainment. The Serrano Apartments features 51 units with 23 Studios, 27 one-bedrooms, and 1 two-bedroom. The property has an on-grade parking garage with 41 single and 6 tandem parking spaces (53 total). Utilities are individually metered for electric and master-metered for gas. New ownership can take a different approach and achieve higher rents by extensively renovating units and common areas attracting millennial tenants who have proven to pay more for luxury units. The building is a very short walk to all that Koreatown has to offer. This is a great opportunity to acquire The Serrano Apartments with an in-place cap rate of 5.54%, a GRM of 11.77, with upside to a 7.15% cap rate and a 9.85 GRM.

Listing Agent

Adam Zunder

Iconic Investments License #01821053 Listed on: 04/08/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 0.41 Acre Lot
  • Lot Dimensions are 120x149

Home Design

  • Split Level Home

Interior Spaces

  • 27,250 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 32 Bedrooms
  • 52 Bathrooms

Parking

  • 53 Parking Spaces
  • Parking Garage Space

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Community Details

  • 51 Units

Listing and Financial Details

  • Assessor Parcel Number 5517-013-026

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Living Area: 27250
  • Lot Acreage: 0.4107
  • Lot Dimensions: 120x149
  • Stories: 3
  • Year Built: 1972
  • Number Of Photos: 15
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 32
  • Total Bathrooms: 52.00
  • Price Per S Q F T: 416.51

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Community Garage
  • Total Parking: 53

Utilities

  • Cooling: Wall/Window
  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 48.98
  • Assessed Improvement Value: 4896000
  • Assessed Land Percent: 51.02
  • Assessed Land Value: 5100000
  • Total Assessed Value: 9996000
  • Assessor Parcel Number: 5517-013-026
  • Lot Size Area: 17891

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 11.77
  • Number Of Units: 51
  • Total Annual Expense: 369711
  • Type Of Units: Apartments
  • Vacancy Rate: 2%

Map

Range of Values:

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Average Value
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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/08/2025 04/08/25 For Sale $11,350,000 +15.8% $417 / Sq Ft
01/25/2023 01/25/23 Sold $9,800,000 -14.8% $360 / Sq Ft
01/02/2023 01/02/23 Pending -- -- --
12/06/2022 12/06/22 For Sale $11,500,000 -- $422 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 25522929

The MLS
California Los Angeles County Los Angeles 90004 Koreatown

238 S Serrano Ave, Los Angeles, CA

This home is located at 238 S Serrano Ave, Los Angeles, CA 90004 and is currently priced at $11,350,000, approximately $416 per square foot. This property was built in 1972. 238 S Serrano Ave is a home located in Los Angeles County with nearby schools including Cahuenga Elementary School, UCLA Community School, and Virgil Middle School.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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Adam Zunder
Listing Agent
Adam Zunder
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Iconic Investments
(818) 554-5560