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$ 1,795,000
Est. payment /mo
Active
502 N Serrano Avenue Los Angeles, CA 90004
7,456 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,456 sqft
Price per Sqft $240
MLS Listing ID CL25569149
HOA Y/N No
Year Built 1956
Lot Size 7,553 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
Meticulously cared for by the same family for two generations, 502 N Serrano Ave. is incredibly well positioned for an investor to steward to new heights with cosmetic upgrades, unit turnover and potential ADUs. Over the past 20 years, ownership has upgraded the major systems including converting to all copper plumbing, resurfacing and resealing exterior walkway decking, adding a new central water heater and performing a full roof replacement. In 2019, ownership completed the City's mandatory soft-story retrofit. Units have been thoroughly renovated as they turn over, replacing the original bathroom wall heaters with wall/window air-conditioning units. The downstairs unit on Serrano includes a private, secured patio for the tenant's use. The intersection of Serrano and Maplewood Avenues is a quiet area with low density residential and single family homes mixed with mid-sized apartment buildings. 502 N. Serrano is offered at a competitive current cap rate with approximately 20% upside in NOI, with further potential by adding ADUs and implementing RUBS utility reimbursement as new leases are signed. Koreatown is among the highest demand markets in LA. Located in central Los Angeles, west of downtown and south of Hollywood, it's bounded by Beverly Blvd.to the north, Pico Blvd. to th
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Laundry Room
Building
New Construction No
Others
Tax ID 5521012013
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Adam Peterson • CB Richard Ellis, Inc.