$14,300,000

705 S Serrano Ave Los Angeles, CA 90005

Koreatown Neighborhood
0.34 Acres
$41,521,487 Price per Acre
15,002 Sq Ft Lot

Highlights

  • City View
  • 0.34 Acre Lot
  • 5-minute walk to Wilshire/Western Station

About This Lot

Prime development opportunity in the heart of Koreatown. The offering consists of two contiguous parcels at 705 & 715 S Serrano Ave, currently improved with single-family residences and being sold together as a land value development site. The property is zoned R4-2 with TOC Tier 3 incentives, offering significant density bonus benefits and no height restriction, allowing for a large-scale multifamily development. The site has already cleared Historic designation, and demolition permits have been obtained, significantly reducing the entitlement timeline for developers. With the TOC Tier 3 density bonus, the project has the potential to accommodate 200+ residential units (Buyer to verify with the City). Located in one of Los Angeles' most dense and rapidly developing neighborhoods, the property is within close proximity to Wilshire Blvd, major transit corridors, restaurants, retail, and employment centers, making it an ideal opportunity for developers seeking a high-density multifamily project in Koreatown.

Listing Agent

David Hong

Urban Real Estate, Inc. License #01478620 Listed on: 03/16/2026

Co-Listing Agent

Yong Su Koh

Urban Real Estate, Inc. License #01978670

Property Details

Property Type

  • Land

Lot Details

  • 0.34 Acre Lot
  • Lot Dimensions are 100x150
  • Property is zoned LAR4

Property Views

  • City Views

Utilities

  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 5093-011-008

Property Details

Property Type

Land

Lot Details

0.34 Acres

Listing Details

  • Property Type: Land
  • Street Number Display: Yes
  • Lot Acreage: 0.3444
  • Lot Dimensions: 100x150
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Price Per S Q F T: 3263.35

Exterior Features

  • View: City
  • View: Yes

Utilities

  • Cable: Yes
  • Telephone: Yes

Lot Info

  • Assessor Parcel Number: 5093-011-008
  • Lot Description: 2-4 Lots
  • Lot Size Area: 15004

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
Collateral Analytics

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $65,719 $5,520,402 $4,113,241 $1,407,161
2024 $65,719 $5,412,160 $4,032,590 $1,379,570
2023 $64,434 $5,306,040 $3,953,520 $1,352,520
2022 $61,420 $5,202,000 $3,876,000 $1,326,000
2021 $6,710 $506,897 $354,833 $152,064
2020 $6,769 $501,700 $351,195 $150,505
2019 $6,524 $491,863 $344,309 $147,554
2018 $6,344 $482,219 $337,558 $144,661
2016 $6,035 $463,496 $324,451 $139,045
2015 $5,953 $456,535 $319,578 $136,957
2014 $5,983 $447,593 $313,318 $134,275
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/16/2026 03/16/26 For Sale $14,300,000 -- --
Source: The MLS

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- None Available
Gift Deed -- --
Gift Deed -- --
Source: Public Records

Source: The MLS

MLS Number: 26665135

The MLS

APN: 5093-011-008

California Los Angeles County Los Angeles 90005 Koreatown

705 S Serrano Ave, Los Angeles, CA

For Sale

Lots

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The MLS © 2026 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.
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David Hong
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