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$ 3,900,000
Est. payment | /mo
13,716 SqFt
$ 3,900,000
Est. payment | /mo
13,716 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 13,716 sqft
Price per Sqft $284
MLS Listing ID CL24421525
HOA Y/N No
Year Built 1923
Lot Size 5,445 Sqft
Acres 0.13
Property Sub-Type Other
Property 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 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.
Location
State CA
County Los Angeles
Area Listing
Zoning LARD
Interior
Heating Wall Furnace
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5536026003
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Listed by Max Berger • Compass
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Patrick Nagel
REALTOR® | Lic# 1760790