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556 N Serrano Avenue, Los Angeles, CA 90004
$1,049,000
556 N Serrano Avenue, Los Angeles, CA 90004View this property at 556 N Serrano Avenue, Los Angeles, CA 90004
556 N Serrano AvenueLos AngelesCA90004
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Property Description
This 5 unit property is an amazing value add opportunity. Pro-forma rents would yield a 6.8% cap rate. Own a two story 4-plex with a detached 1500 SF 3 bed 1 bathroom house on a 7,500 square foot lot in the heart of Koreatown, just off of Melrose near Hollywood!
The fourplex consists of four 1 bedroom 1 bathroom units each just over 900 square feet large, with their own formal dining room and living room. Property is fully occupied and will be delivered with existing tenants subject to rent controll. Each unit has its own laundry hookups. Located in one of the most desirable neighborhoods in Los Angeles, this property is just steps away from the vibrant culture and nightlife of Koreatown, while also being conveniently located near Hollywood and all its amenities. With so much to offer, this property is truly a gem that you don't want to miss out on.
Full Property Details
Full Property Details for 556 N Serrano Ave
General
- Sold For: $1,049,000
- Status: Closed
- Type: Multi-Family
- MLS ID: WS23040680
- Added to Site: 449 day(s) ago
Rooms
Other Rooms
- Laundry: See Remarks
Additional Information
- Pool Description: None
Location
- Area: KREA - Koreatown
- County: Los Angeles
- Development Name: KREA - Koreatown
- Driving Directions: Off 101 Freeway exit Melrose head west to Serrano head south
Utilities
- Sewer: Public Sewer
- Water: Public
- # Water Meters: 5
- # Gas Meters: 5
- # Electric Meters: 5
Structural Information
- Stories/Levels: Two
- Stories Description: Two
- Square Feet: 5,270
- Year Built: 1912
Unit Information
Unit 1
- Number of Units: 4
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Number of Units: 1
- Total Bathrooms: 1
- Bedrooms: 3
Lot Features
- Lot Size (Acres): 0.1722
- Lot Size Source: Assessor
- Zoning: LAR3
- Lot Description: 0-1 Unit/Acre
Financial Considerations
- Price Per Sq. Ft.: $199.05
- Price Per Unit: 229800
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
Listed by Reh Real Estate, PAUL ARGUETA
Sold by Allison James Estates & Homes, Raina Akilova
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Schools
Schools serving 556 N Serrano Ave
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
330 N Harvard Blvd, Los Angeles, CA 90004 | K-5 | 0.3 mi | |
152 N Vermont Ave, Los Angeles, CA 90004 | 6-8 | 1 mi | |
7850 Melrose Ave, Los Angeles, CA 90046 | 9-12 | 3.1 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 556 N Serrano Ave
Date
Details
Price
Change
Source
1/12/2024
Sold
$1,049,000
-8.7%
MLS
12/04/2023
Price Reduced
$1,149,000
-8.01%
MLS
10/16/2023
Price Reduced
$1,249,000
-7.41%
MLS
8/09/2023
Price Reduced
$1,349,000
-10.05%
MLS
6/14/2023
Price Reduced
$1,499,800
-11.67%
MLS
3/10/2023
Listed
$1,698,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
556 N Serrano Avenue, Los Angeles, CA 90004 (MLS# WS23040680) is a Multi-Family property that was sold at $1,049,000 on January 12, 2024. Want to learn more about 556 N Serrano Avenue? Do you have questions about finding other Multi-Family real estate for sale in Koreatown? You can browse all Koreatown real estate or contact a Coldwell Banker agent to request more information.