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702 S Serrano Avenue 501, Los Angeles, California 90005, Los Angeles, 90005 - 3 bed, 3 bath

702 S Serrano Avenue 501, Los Angeles, California 90005 home-pic-0
ACTIVE$985,999$1,520/sqft
702 S Serrano Avenue 501, Los Angeles, California 90005
3Beds
3Baths
1,520Sqft
14,187Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Panoramic City Views: The unit offers exceptional panoramic city views from its 5th-floor, front-facing position and balcony, explicitly highlighted as a prime feature.
Top Cons:
High Monthly Association Fee: The association fee of $750.0 per month is substantial and adds a significant recurring cost to homeownership.

Compared to the nearby listings

Price:$986.0K vs avg $705.0K (+$280,999)93%
Size:1,520 sqft vs avg 1,360 sqft86%
Price/sqft:$649 vs avg $53986%

More Insights

Built in 2007 (19 years old).
Condition: Built in 2007, this unit is 17 years old, placing it within the 'Good' category for age. The kitchen features high-end Miele and Viking appliances, modern cabinetry, and granite countertops, all appearing well-maintained. Bathrooms are updated with modern fixtures, including a luxurious master bath with a large tub and separate shower. Flooring is a mix of tile and hardwood, both in good condition. The property is move-in ready with no immediate renovations required, and its systems appear functional and well-maintained, consistent with a 'Good' rating.
Year Built
2007
Close
-
List price
$986K
Original List price
$986K
Price/Sqft
$649
HOA
$750
Days on market
-
Sold On
-
MLS number
26638573
Home ConditionGood
Features
Excellent View: City Lights
Deck
ViewCity Lights

About this home

Best view,view ,and view, Experience luxury living in this modern end unit located in the heart of Koreatown, just south of Wilshire. This bright and spacious front-facing unit on the 5th floor offers premium features and restricted access for enhanced privacy. The unit spans approximately 1,520 square feet and includes: - Living Space: Large living room with marble and hardwood flooring, featuring a balcony with panoramic city views. - Kitchen: Extensive cabinetry equipped with a Miele dishwasher and a Viking open burner range. - Bedrooms/Baths: 3 bedrooms and 2.5 baths. The master bath includes a X large tub and double sinks; the second bathroom also features double sinks. Building amenities include: - Fitness room - Sun deck - Theater room - SIDE BY SIDE Two parking spaces. The property is within short distance of major supermarkets, the Wiltern Theatre, Gym and spa, Metro stations, and a variety of dining options.

J
Jae Young Lee
Listing Agent

Price History

Date
Event
Price
08/18/17
Sold
$799,000
07/01/11
Sold
$600,000
Condition Rating
Good
Built in 2007, this unit is 17 years old, placing it within the 'Good' category for age. The kitchen features high-end Miele and Viking appliances, modern cabinetry, and granite countertops, all appearing well-maintained. Bathrooms are updated with modern fixtures, including a luxurious master bath with a large tub and separate shower. Flooring is a mix of tile and hardwood, both in good condition. The property is move-in ready with no immediate renovations required, and its systems appear functional and well-maintained, consistent with a 'Good' rating.
Pros & Cons

Pros

Panoramic City Views: The unit offers exceptional panoramic city views from its 5th-floor, front-facing position and balcony, explicitly highlighted as a prime feature.
Prime Koreatown Location: Situated in the heart of Koreatown, just south of Wilshire, providing excellent walkability to major supermarkets, the Wiltern Theatre, gyms, spas, Metro stations, and diverse dining options.
Luxury Interior Finishes & Appliances: Features high-end finishes such as marble and hardwood flooring, a Miele dishwasher, a Viking open burner range, and well-appointed bathrooms with an extra-large tub and double sinks.
Comprehensive Building Amenities: Residents benefit from a fitness room, sun deck, and a theater room, enhancing the luxury living experience within the building.
Dedicated Side-by-Side Parking: The inclusion of two side-by-side parking spaces is a significant advantage and convenience in a dense urban environment like Koreatown.

Cons

High Monthly Association Fee: The association fee of $750.0 per month is substantial and adds a significant recurring cost to homeownership.
Absence of Cooling System Mention: The property description does not specify the presence of an air conditioning or cooling system, which could be a drawback for comfort during warmer months in Los Angeles.
Urban Environment Drawbacks: While the central Koreatown location is a strength, it inherently comes with potential for urban noise and a lack of expansive private outdoor green space beyond the balcony, which some buyers may desire.
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