502 N Serrano Avenue, Los Angeles, CA 90004

• 7,456 sqft

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

Listing Status:

Pending

Date Added:

July 23, 2025 at 05:00AM

Listing Office:

CB Richard Ellis, Inc. :

Listing Agent:

Adam Peterson : 310-550-2592

MLS ID:

CL25569149

Interior

• Laundry: Laundry Room
• A/C: Wall/Window Unit(s)
• Heating: Wall Furnace

Exterior

• Parking: CoveredOther

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: LAR45521012013

Financial

• Source: CRMLS

This listing courtesy of Adam Peterson, CB Richard Ellis, Inc.