238 S Serrano Avenue, Los Angeles, CA 90004

Local realty services provided by:ERA Excel Realty
238 S Serrano Avenue,Los Angeles, CA 90004
$11,350,000
  • 32 Beds
  • 52 Baths
  • 27,250 sq. ft.
  • Multi-family
  • Active
Listed by:adam zunder
Office:iconic investments
MLS#:25522929
Source:CRMLS

Price summary

  • Price:$11,350,000
  • Price per sq. ft.:$416.51

About this home

We are pleased to present for sale, The Serrano, located at 238 S. Serrano Ave. This prime Koreatown location is just north of 3rd Street and east of Western Ave., offering easy access to the Wilshire/Western Metro Station, shopping, and entertainment. The Serrano Apartments features 51 units with 23 Studios, 27 one-bedrooms, and 1 two-bedroom. The property has an on-grade parking garage with 41 single and 6 tandem parking spaces (53 total). Utilities are individually metered for electric and master-metered for gas. New ownership can take a different approach and achieve higher rents by extensively renovating units and common areas attracting millennial tenants who have proven to pay more for luxury units. The building is a very short walk to all that Koreatown has to offer. This is a great opportunity to acquire The Serrano Apartments with an in-place cap rate of 5.54%, a GRM of 11.77, with upside to a 7.15% cap rate and a 9.85 GRM.

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Home facts

  • Year built:1972
  • Listing ID #:25522929
  • Added:175 day(s) ago
  • Updated:September 26, 2025 at 10:31 AM

Rooms and interior

  • Bedrooms:32
  • Total bathrooms:52
  • Living area:27,250 sq. ft.

Heating and cooling

  • Cooling:Wall Window Units
  • Heating:Wall Furnance

Structure and exterior

  • Year built:1972
  • Building area:27,250 sq. ft.
  • Lot area:0.41 Acres

Finances and disclosures

  • Price:$11,350,000
  • Price per sq. ft.:$416.51
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