620 N Serrano Avenue

  • Hollywood

  • $2,400,000
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Residential Income Details

Description
620 N Serrano is a luxurious new construction fourplex that is made up of two standalone 3-story duplexes in a prime Hollywood location. This centrally located property is minutes from Paramount Studios, Raleigh Studios, trendy Larchmont Village, upscale Hancock Park, Koreatown, and of course all the action Hollywood has to offer. 620 N Serrano is in the final stages of construction, with completion estimated to be June 2018. This property provides investors an unbelievably high projected cap rate of 5.64%. In addition to the high return, buyers will enjoy other notable perks including: NO RENT CONTROL, a 1 year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters. Between the fantastic location and the countless benefits of buying high quality new construction, purchasing this property is a no-brainer. The property is made up of two 3 bedroom, 3 bathroom units with pro forma rents of $3,900 & $3,900, and two 3 bedroom, 2.5 bathroom units with pro forma rents of $3,550 & $3,550. These are very conservative market rents with potential to obtain even higher. There are 4 covered parking spaces and 4 partially covered parking spaces that are accessed from the back alley. Additionally, there is an area in the front of the property with room for additional parking.
Essential
MLS #BB18141692
Price$2,400,000
Number of Units4
Sale TypeStandard
StatusPending
Listing BrokerageThe 2-4 Unit Specialists
Listing AgentElizabeth Maddox
Listing Agent BRE #01921425
Interior
FeaturesBalcony,Open Floor Plan
FloorLaminate
AppliancesDishwasher,Freezer,Garbage Disposal,Gas Oven,Gas Range,Microwave,Refrigerator
CoolingCentral
HeatingCentral Furnace
FireplaceNone
Exterior
Garage Spaces4
ViewCity Lights,Neighborhood
PoolNone
SpaNone
RoofingFlat
Community
AreaC20 - Hollywood
CommunityCurbs,Sidewalks
Address620 N Serrano Avenue
CityHollywood
CountyLos Angeles
StateCA
ZipCode90004
School

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Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, July 24, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.