Description

We are pleased to present for sale, The Serrano by Three Apartments, located at 333. S Serrano Ave. This prime Koreatown location is just north of 3rd Street and one block east of Western Ave., offering easy access to the Wilshire/Western Metro Station, shopping, entertainment, and other submarkets like Hollywood, Downtown LA, Silverlake, and Larchmont Village. The Serrano features 10 units with two 1 Bedroom/1 Bath and eight 2 Bedroom/2 Baths. The property has on-grade parking, and the building has been seismically retrofitted, with eight singles and three tandem parking spaces. Utilities are individually metered for both gas and electricity. The property has a solar system that assists in generating electricity for the water heater. Within Koreatown, apartment buildings just east or west of Western Blvd have historically achieved higher rents than other locations within this submarket. New ownership can take a different approach and realize higher rents by extensively renovating the 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.