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644 N Serrano Ave 3 Unit Apartment Building $875,000 ($291,667/Unit) Los Angeles, CA 90004
Executive Summary
ALL UNITS SEPARATELY METERED FOR WATER, GAS, AND ELECTRIC. A MAJOR VALUE ADD FOR INVESTORS! ***ALL TENANTS ARE WILLING TO RELOCATE.*** 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.
Property Facts In Escrow
| Price | $875,000 | Building Class | C |
| Price Per Unit | $291,667 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 2,781 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Multiple Dwelling R2 Uses, Apartment Houses, Multiple Dwellings, Child Care (20 max) | ||
| Price | $875,000 |
| Price Per Unit | $291,667 |
| Sale Type | Investment |
| 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 |
|---|---|---|---|
| Studios | 1 | - | 400 |
| 2+1 | 1 | - | 611 |
| 3+2 | 1 | - | 900 |
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 |
| Land Assessment | $361,787 | Total Assessment | $454,184 |
Property Taxes
Parcel Number
5521-004-005
Land Assessment
$361,787
Improvements Assessment
$92,397
Total Assessment
$454,184
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644 N Serrano Ave