View Photos

226 S Serrano Ave Los Angeles, CA 90004

$5,400,000 Sold Price as of 03/03/2021

28 Beds
29 Baths
17,338 Sq.Ft.

Sold

$5,400,000 Sold Price as of 03/03/2021 Refinance Your Mortgage

Map preview of 226 S Serrano Ave, Los Angeles, CA 90004

Property Overview: 226 S Serrano Ave Los Angeles, CA has 28 bedrooms, 29 bathrooms, 17,338 living square feet and 8,940 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Serrano Apartments is a 21-unit, multifamily property located at 226 S Serrano Ave in the Koreatown neighborhood of Los Angeles. Built-in 1987, in modern architecture, the property offers renters 1 Studio, 12 One- Bedroom, and 8 Two-Bedroom units across +/- 17,388 of improvements on+/- 8,939 square feet of land. Utilities are separately metered for gas and electric, except for unit #107 which is master metered for both. Since the property was built in 1987 it is not subject to the LA RSO, however, it falls under Assembly Bill 1482 which allows for annual rent increases of 5% + CPI. Assuming annual rent increases of 8%, new ownership will have the opportunity to quickly grow rents without the costs of turning/vacating units. New ownership can also push rents by renovating the unit interiors and common areas. Property can be sold with 5532 Harold Way and 5440 Carlton Way.

Listed by Adam Zunder | BRE #01821053 | Iconic Investments
Co-listed by Peter Strauss | BRE #01335696 | Iconic Investments

Last checked: 42 seconds ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 31

Home details

Lot Sq. Ft: 8,940
HOA Dues: $0/mo
Year built: 1987
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 20654730
City: Los Angeles
County: Los Angeles
Time on Site: 1267 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 21
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 8
# of Beds: 2
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $1,618
Total Rent: $18,200
Pro Forma/Market Rent: $12,940

Unit Breakdown 2

# of Units: 12
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,365
Total Rent: $21,000
Pro Forma/Market Rent: $16,385

Unit Breakdown 3

# of Units: 1
# of Beds: 0
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,400
Total Rent: $1,400
Pro Forma/Market Rent: $1,450

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 15.19
Gross Scheduled Income: --
Net Operating Income: $202,487
Gross Operating Income: $368,700

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 226 S Serrano Ave

Interior Features

Cooling Information

Has Cooling
Wall/Window Unit(s)

Heating Information

No Heating
None

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Community Structure

Property Information

Total # of Units: 21
Parcel Number: 5517013013

Location / Neighborhood

Location Information

Directions: Just east of Western and north of 3rd Street.

View more facts & features

Local Los Angeles Agent

Sale History for 226 S Serrano Ave

Last sold for $5,400,000 on March 3rd, 2021

March, 2021
Mar 4, 2021

Date

Sold

CRMLS: 20654730

$5,400,000

Price
Dec 4, 2020

Date

Pending

CRMLS: 20654730

$5,600,000

Price
Nov 2, 2020

Date

Active

CRMLS: 20654730

$5,600,000

Price
March, 2021
Mar 2, 2021

Date

Sold (Public Records)

Public Records

$5,400,000

Price
April, 2014
Apr 1, 2014

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 226 S Serrano Ave

Assessed Value (2020): $2,161,284

Year	Land Value	Improved Value	Assessed Value
2020	$1,080,642	$1,080,642	$2,161,284

Home Value Compared to the Market

This property vs the competition

226 S Serrano Ave sold on March 3, 2021 for 339.56% higher than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $322.99 per/sqft which puts the price per square foot 59.17% lower than the current median sale per square foot for the city of Los Angeles.

About 226 S Serrano Ave

Detailed summary of property

226 S Serrano Ave is a multi family that recently sold in Los Angeles, CA 90004. This multi family property offered 28 bedrooms, 29 bathrooms, roughly 17,338 living square feet, and sits on an approximately 8,940 square foot lot. 226 S Serrano Ave was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $5,400,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 339.56% higher than the current median priced home. Local homes that are currently for sale include 3421 Larissa Dr, 3365 Hamilton Way and 1651 Redcliff St. While the average home in Los Angeles, CA is selling in 100 days, 226 S Serrano Ave has a days on market of 31 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 226 S Serrano Ave Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 226 S Serrano Ave

Public county record property details

Beds: --
Baths: --
Year built: 1987
Sq. Ft.: 17,338
Lot Size: 8,939
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 111
APN: 5517-013-013

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,195,000

Median List Price/Sq.Ft.

$764

Median Sold Price

$2,215,000

Median Sold Price/Sq.Ft.

$919

Total Inventory

Median Sale to List Price %

110.81%

Avg Days on Market

Loan Type

Conventional (7.69%), FHA (0%), VA (0%), Cash (15.38%), Other (0%)

Thinking of Selling?

Is this your property?
Thinking of Selling?
Call, Text or Message

(714) 706-1823

Homes for Sale Near 226 S Serrano Ave

Nearby Homes for Sale

161 S St Andrews Pl, Los Angeles, CA 90004

Recently Sold Homes Near 226 S Serrano Ave

238 S Serrano Ave, Los Angeles, CA 90004

$9,800,000 Last Sold Price

29 Beds

52 Baths

27250 Sq.Ft.

238 S Serrano Ave
Los Angeles, CA 90004

248 S Hobart Blvd, Los Angeles, CA 90004

$2,190,000 Last Sold Price

16 Beds

8 Baths

7359 Sq.Ft.

248 S Hobart Blvd
Los Angeles, CA 90004

$2,110,000 Last Sold Price

49 Beds

49 Baths

6709 Sq.Ft.

175 S Oxford Ave
Los Angeles, CA 90004

326 S Serrano Ave, Los Angeles, CA 90020

$2,800,000 Last Sold Price

16 Beds

16 Baths

9948 Sq.Ft.

326 S Serrano Ave
Los Angeles, CA 90020

Related Resources to 226 S Serrano Ave

New Listings in 90004

Popular Zip Codes

Popular Cities

Other Los Angeles Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.