1610 North Serrano Avenue is a five unit property located in the heart of Hollywood. As one of Los Angeles densely populated neighborhoods, the building is situated directly between the lively and social streets of Hollywood Boulevard and Sunset Boulevard, catering to a diverse mix of young professionals, hipsters and families alike. The concentration of shops, new restaurants and retail stores along the Boulevards serve all different types of local residents, as the location of the asset is considered Walkers Paradise, with a 91 Walk Score.
The property consists of one large and remodeled three-bedroom plus office plus den single family house, and two charming duplexes, that each feature spacious two-bedroom units with a private home feel. The property also offers ample gated parking on-site for each unit. Investors will be acquiring the property with a two-bedroom unit delivered vacant. The vacant unit has been recently handsomely renovated and will allow the new ownership to immediately receive market rent for the highly in-demand rental location.
This is a unique chance to achieve strong cash-flow day one on a well-maintained property, while still providing high rental upside and a value-add opportunity in a centrally located and highly desirable sub-market.
