
Los Angeles, California 90004
This Strong Value Opportunity is a Triplex Residential Income asset listed at $1,200,000—positioned well below the $1,297,116 Fair Market Value by 7%. This valuation gap offers $97,116 in Instant Equity. Featuring a 2024 newly constructed rear building and a 1919 front residence, the property maintains a Turnkey Condition Rating. With 100% occupancy and a 5.68% cap rate, this is a stable, high-demand acquisition ideal for Buy-and-Hold Investors or 1031 Exchange Buyers seeking immediate cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 211 N Serrano Subject 0 bd · 0 ba · 2,749 sqft · $472 | $1,200,000* List Price | 0 | 0 | 2,749 | $472 | - |
A 120 N Hobart Boulevard Active 0 bd · 0 ba · 2,616 sqft · $554 · 0.1 mi | $1,450,000 List Price | 0 | 0 | 2,616 | $554 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property features a brand-new two-story rear building that received its Certificate of Occupancy in July 2024, ensuring modern HVAC, electrical, and plumbing systems. While the front unit is a 1919 structure, the overall triplex is presented as a high-performing, turnkey investment in mint condition with no deferred maintenance required.
The rear two-story building was completed in 2024, providing modern infrastructure, energy efficiency, and significantly lower immediate maintenance costs for the investor.
The property boasts a high 5.68% current capitalization rate with 100% occupancy, offering immediate and stable returns in a competitive Los Angeles submarket.
Situated near Larchmont Village and Koreatown, the property is located in a high-demand residential pocket that ensures low vacancy rates and consistent tenant interest.
The original 1919 front residence may require more frequent upkeep and capital expenditures compared to the newly constructed rear units due to its age.
With the property already 100% occupied, investors face a delay in realizing the 6.34% pro forma cap rate until existing leases expire or units turn over.
We are pleased to present 209–211 N. Serrano Avenue, an attractive, 100% occupied triplex investment opportunity situated in a desirable residential pocket of Central Los Angeles. The property offers an appealing combination of immediate cash flow, newer construction, and rental upside in a well-established neighborhood. Situated on a 6,564-square-foot lot, the property consists of a charming original 1919 front residence and a newly constructed two-story rear building, which received its Certificate of Occupancy in July 2024. The three residential units comprise approximately 2,749 square feet of living area, featuring a total of five bedrooms and five bathrooms. The property blends the architectural character of a traditional Los Angeles residence with the advantages of modern residential construction. Currently generating $95,160 in annual scheduled rental income, the property offers an estimated 5.68% current capitalization rate, with projected market rents supporting a 6.34% pro forma capitalization rate and approximately 8.4% potential rental income growth, based on the stated operating assumptions. The property is conveniently located near Larchmont Village, Hancock Park, Koreatown, and Hollywood, offering residents easy access to popular restaurants, cafés, shopping, entertainment, and major employment centers. The surrounding neighborhood features a blend of charming historic homes, established multifamily properties, and newer residential developments, providing an attractive residential setting with excellent urban accessibility. With its 2024 rear construction, established tenancy, strong in-place income, and potential for future rental growth, 209–211 N. Serrano Avenue presents a compelling opportunity for investors seeking a well-located residential income property with both immediate returns and long-term investment potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 2,749 | 2,090.331 |
| Lot Size | 6,566 | 5,852.908 |
| Price | $1.20M | $830.9K |
| Price per sq ft | $437 | $394 |
| Built year | 2024 | 1928 |
| HOA | $0 | $0 |
| Days on market | 6 | 87 |
Nov 3, 2026
$1,200,000
Initial Listing
May 31, 2022
$1,120,000
Public Record
Apr 13, 2009
$465,000
Public Record
Mar 31, 2006
$765,000
Public Record
Dec 2, 2005
$762,000
Public Record
Jun 25, 2003
$360,000
Public Record