Description

We are pleased to present 238 S Serrano Ave, a robust multi-family investment opportunity with 32%+ rental upside potential, located in the bustling Mid-Wilshire/Koreatown submarket of Los Angeles, just east of Western Ave and north of 3rd St. Built in 1972, the building is comprised of 51 units, including 23 singles, 27 (1+1), and 1 (2+2) units that average approximately 534 gross square feet. The 27,252 square foot structure is situated on a 17,886 square foot LAR3-1 zoned lot. The building's units offer features including air conditioning and heat, tub/showers, garbage disposals, full kitchens with range ovens and refrigerators, vinyl flooring, and family rooms. Some units include built-in bookshelves and balconies, and select units have been renovated to include new laminate wood flooring, reglazed countertops, and designer pulls & facets. The property features a bright front lobby with secured entry and floor-to-ceiling windows and gated parking with 41 spaces, providing convenient vehicle storage for residents. The property is separately metered for gas and electric, and there is a laundry facility on-site for added convenience. With an outstanding Walk Score of 97, 238 S Serrano Ave's Koreatown location offers residents unmatched access to career centers, educational institutions, restaurants, nightlife destinations, and shopping, all within one of the most walkable and high-demand locations in Southern California. The property is also conveniently located just 0.7 miles from the Metro Purple D Line Wilshire/Western station, ensuring easy access to the city's extensive transit network and other LA attractions. Strategically positioned in the heart of Koreatown, 238 S Serrano Ave is a well-maintained asset in a vibrant and centrally situated submarket, offering an astute investor the potential significant appreciation and strong returns supported by high tenant demand for a quality living experience in one of Los Angeles's most dynamic neighborhoods.