1000 North Serrano Avenue

Los Angeles, CA 90029

$3,900,000
Price
24
Beds
24
Baths
13,716 Sq. Ft.
$284 / Sq. Ft.
13,716
Sq. Ft.
$284
per Sq. Ft.

Description

1000 N. Serrano is a 13,716 SF 3-story complex featuring (24) 1-bdrm. units. The property is offered at 6.75% CAP and 8.63 GRM on current rents, $162,500 per unit, and $284 per foot. There is approx. 52% rental upside compared to renovated units in the area. This value-add opportunity will stabilize at a 12.53% CAP and 5.68 GRM at projected market rents. 1000 N. Serrano is located minutes from the heart of Hollywood. Located just south of Santa Monica Blvd, the property is near several large-scale...1000 N. Serrano is a 13,716 SF 3-story complex featuring (24) 1-bdrm. units. The property is offered at 6.75% CAP and 8.63 GRM on current rents, $162,500 per unit, and $284 per foot. There is approx. 52% rental upside compared to renovated units in the area. This value-add opportunity will stabilize at a 12.53% CAP and 5.68 GRM at projected market rents. 1000 N. Serrano is located minutes from the heart of Hollywood. Located just south of Santa Monica Blvd, the property is near several large-scale production studios such as Sunset Gower Studios, Paramount Studios, Netflix, an array of retailers, cafes, and restaurants along Sunset Blvd. In addition, 1000 N. Serrano is 1 mile south of the Hollywood/Western Metro Red Line Station, and is close to several major thoroughfares including Sunset Blvd, Hollywood Blvd, and the 101 Freeway. Property amenities include gated entry and a community laundry room. 1000 N. Serrano can be purchased individually or as part of a 5-property portfolio in Melrose Hill and Westlake. Please contact LA1 for more information.

Listing Agent

  1. Max Berger

    Max Berger

    Listing Agent

    Compass

    DRE #02054048

    max.berger@compass.com

    P: (818)-321-4972

Property Details for 1000 North Serrano Avenue

Zoning
LARD1.5
Cross Streets
Romaine St. & N. Serrano Ave.
Parcel Number
5536026003
Total Units
24.0
Living Area
13716
Source Living Area
Vendor Enhanced
Area
Hollywood (C20)
Vacancy Rate
1 unit
LISTING UPDATED: 08/09/2024 02:05 PM

Property Details for 1000 North Serrano Avenue

StatusPending
MLS #24-421525
Days on Market10
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.13 AC / 5,445 SF
CountyLos Angeles County
Buyer's Agent Compensation2%

Building Information for 1000 North Serrano Avenue

Stories3Residences-Year Built1923Building Size-Lot Size0.13 AC / 5,445 SF

Property Information for 1000 North Serrano Avenue

Community / Development
Community / Development
  • Number Of Units: 24
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Security Features: Gated
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $440,762
  • Net Operating Income: $263,084.00
  • Gross Income: $452,064
  • Cap Rate: 6.75%
  • Gross Rent Multiplier: $8.63
  • Financial Info as Of: 07/30/2024
  • Total Annual Expense: 177675
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Size Square Feet: 5445
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Cable, Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-30-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,560.00
  • Unit Actual Rent: $37,432.00
  • Unit Projected Rent: $57,000.00
  • Like Units: 24
Unit Details
  • Unit Type Type: 2106

Property History for 1000 North Serrano Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1000 North Serrano Avenue

Taxable ValueLand$2,362,274Additions$1,578,928Total$3,941,202
Tax Record2024$49,204 ($4,100 / month)
Home Facts
Total Finished SqFt13,716 SqFtAbove Grade Finished SqFt13,716 SqFtLot Size5,445 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLARD1.5CountyLOS ANGELESAPN5536-026-003

Schools near 1000 North Serrano Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Kingsley Elementary School
PublicK to 5

Joseph Le Conte Middle School
Public6 to 8

STEM Academy at Bernstein High
Public9 to 12

Helen Bernstein High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Max Berger, DRE #02054048

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.