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644 N Serrano Ave, Los Angeles, CA 90004 644 N Serrano Ave 3 Unit Apartment Building $995,000 ($331,667/Unit) 6.84% Cap Rate Los Angeles, CA 90004
Executive Summary
ALL UNITS SEPARATELY METERED FOR WATER, GAS, AND ELECTRIC. A MAJOR VALUE ADD FOR INVESTORS! Located in Los Angeles within the vibrant Melrose District, this well-positioned triplex offers an excellent opportunity in one of the city's most sought-after urban neighborhoods, known for its trendy boutiques, diverse dining, and close proximity to Hollywood, Koreatown, and Downtown LA. This multi-family property features three units with a functional layout, including a front unit with 3 bedrooms and 2 bathrooms, a rear unit with 2 bedrooms and 1 bathroom, and an additional studio unit with 1 bathroom, creating multiple income streams and flexible living options. Ideal for investors seeking strong rental potential or owner-occupants looking to offset their mortgage by renting out additional units, the property offers versatility for both income generation and multi-generational living. Gated property with rear access and parking for up to six vehicles in the back. Conveniently located near Melrose Avenue, major freeways, public transportation, shopping, dining, and key employment hubs, this property is perfectly situated for long term value and demand. ALL UNITS ARE SEPARATELY METERED FOR WATER, GAS, AND ELECTRICITY, A SIGNIFICANT ADVANTAGE THAT HELPS REDUCE OPERATING EXPENSES AND INCREASE OVERALL INVESTMENT EFFICIENCY. Buyer to verify all information, including permits, square footage, and unit details.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$87,600
|
$31.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$87,600
|
$31.50
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$16,938
|
$6.09
|
| Net Operating Income |
$70,662
|
$25.41
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $87,600 |
| Annual Per SF | $31.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $87,600 |
| Annual Per SF | $31.50 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $16,938 |
| Annual Per SF | $6.09 |
| Net Operating Income | |
|---|---|
| Annual | $70,662 |
| Annual Per SF | $25.41 |
Property Facts
| Price | $995,000 | Property Subtype | Apartment |
| Price Per Unit | $331,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.84% | Building Size | 2,781 SF |
| Gross Rent Multiplier | 11.36 | No. Stories | 1 |
| No. Units | 3 | Year Built | 1912 |
| Property Type | Multifamily | ||
| Zoning | LAR3 - Multiple Dwelling R2 Uses, Apartment Houses, Multiple Dwellings, Child Care (20 max) | ||
| Price | $995,000 |
| Price Per Unit | $331,667 |
| Sale Type | Investment |
| Cap Rate | 6.84% |
| Gross Rent Multiplier | 11.36 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 2,781 SF |
| No. Stories | 1 |
| Year Built | 1912 |
| Zoning | LAR3 - Multiple Dwelling R2 Uses, Apartment Houses, Multiple Dwellings, Child Care (20 max) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $2,300 | 900 |
| 2+1 | 1 | $1,540 | 611 |
| Studios | 1 | $1,325 | 400 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5521-004-005 | Improvements Assessment | $92,397 (2025) |
| Land Assessment | $361,787 (2025) | Total Assessment | $454,184 (2025) |
Property Taxes
Parcel Number
5521-004-005
Land Assessment
$361,787 (2025)
Improvements Assessment
$92,397 (2025)
Total Assessment
$454,184 (2025)
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644 N Serrano Ave, Los Angeles, CA 90004 | 644 N Serrano Ave
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