620 North Serrano Avenue

Los Angeles, CA 90004

$2,705,000
Last Sold Price
12
Beds
12
Baths
5,805 Sq. Ft.
$466 / Sq. Ft.
5,805
Sq. Ft.
$466
per Sq. Ft.

Description

620 N Serrano is a fully occupied non-rent controlled 2018 construction fourplex with an outstanding REAL cap rate of 5.44%! 620 N Serrano is master leased at a whopping $15,000 per month to an outstanding “master tenant” who has invested upwards of $80,000 in furniture and property upgrades. When you take a look at the photographs of this gorgeously designed property, you’ll understand why it’s bringing in such a strong income stream. Purchasing 620 N Serrano means enjoying the easy, hands off income...620 N Serrano is a fully occupied non-rent controlled 2018 construction fourplex with an outstanding REAL cap rate of 5.44%! 620 N Serrano is master leased at a whopping $15,000 per month to an outstanding “master tenant” who has invested upwards of $80,000 in furniture and property upgrades. When you take a look at the photographs of this gorgeously designed property, you’ll understand why it’s bringing in such a strong income stream. Purchasing 620 N Serrano means enjoying the easy, hands off income that a master leased property provides! This fourplex is located right off Melrose minutes from the center of Hollywood, Larchmont Village, Koreatown, and Silver Lake, making it a magnet for tourists and individuals in the entertainment industry (to name a few).

620 Serrano is made up of two standalone 3-story duplexes with sweeping views of Hollywood and the LA skyline. The unit mix consists of two 3 bedroom, 3 bathroom units and two 3 bedroom, 2.5 bathroom units. These units define upscale urban living, with expertly designed open floor plans, premium appliances, high ceilings, stunning white cabinetry, eye-catching tile work and numerous balconies throughout.
  1. Listed by Elizabeth Maddox • DRE #01921425 • Brokerage DRE #01921425 • The 2-4 Unit Specialists
  2. Listed by Ian Maddox • DRE #02030205 • Brokerage DRE #01921425 • The 2-4 Unit Specialists

Property Details for 620 North Serrano Avenue

Architectural Style
Modern
View
Neighborhood
Parking Spaces Total
8
Private Pool
No
Cooling Type
Central Forced Air
Total Units
4.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of The 2-4 Unit Specialists, Elizabeth Maddox, DRE #01921425; The 2-4 Unit Specialists, Ian Maddox, DRE #02030205

Sold By The 2-4 Unit Specialists, Elizabeth Maddox, DRE #01921425; The 2-4 Unit Specialists, Ian Maddox, DRE #02030205

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LISTING UPDATED: 06/14/2021 09:09 AM

Property Details for 620 North Serrano Avenue

StatusClosed
MLS #BB21073469
Days on Market21
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2018
Lot Size0.13 AC / 5,524 SF
CountyLos Angeles County

Location

Listing Courtesy of The 2-4 Unit Specialists, Elizabeth Maddox, DRE #01921425; The 2-4 Unit Specialists, Ian Maddox, DRE #02030205

Sold By The 2-4 Unit Specialists, Elizabeth Maddox, DRE #01921425; The 2-4 Unit Specialists, Ian Maddox, DRE #02030205

Add your commute

Building Information for 620 North Serrano Avenue

Stories3Residences-Year Built2018Building Size-Lot Size0.13 AC / 5,524 SF

Payment Calculator

$17,629 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,762

Property Taxes

$2,867

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 620 North Serrano Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $15,000
  • Gross Scheduled Income: $180,000
  • Vacancy Allowance: 3600
  • Gross Operating Income: $176,400
  • Net Operating Income: $141,287
  • Gross Multiplier: 14.44
  • Cap Rate: 5.44
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $35,113
  • New Taxes Expense: $31,191
  • Gardener Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $2,322
  • Maintenance Expense: $1,600
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $35,113
Tax / Assessment Info
  • Tax Tract Number: 1745
  • Tax Census Tract: 1925.10
  • Taxes Percent: 1.20%
  • Tax Lot: 10
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Freezer, Disposal, Gas Range, Microwave, Refrigerator
  • Equipment: Dishwasher, Freezer, Gas Dryer Hookup, Microwave, Refrigerator
  • Interior Features: Balcony, Open Floorplan
  • Room Type: Kitchen, Living Room
  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating: Central
  • Flooring: Laminate, Tile
Exterior Features
  • Fence: Yes
  • Fencing: New Condition
  • Property Condition: Turnkey
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Landscaped, Level with Street, Level, Sprinklers Drip System
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Three Or More
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 0
  • Carport Spaces: 4
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $15,000
  • Unit Type Total Rent: $15,000
  • Unit Type Pro Forma: 15000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $15,000
  • Unit Type Total Rent: $15,000
  • Unit Type Pro Forma: 15000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $15,000
  • Unit Type Total Rent: $15,000
  • Unit Type Pro Forma: 15000
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $15,000
  • Unit Type Total Rent: $15,000
  • Unit Type Pro Forma: 15000
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Number With Disposal: 4

Property History for 620 North Serrano Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 620 North Serrano Avenue

Taxable ValueLand$1,877,922Additions$936,360Total$2,814,282
Tax Record2023$34,406 ($2,867 / month)
Home Facts
Total Finished SqFt5,805 SqFtAbove Grade Finished SqFt5,805 SqFtStories1Lot Size5,524 SqFtStyleQuadraplexYear Built2018ZoningLAR3CountyLOS ANGELESAPN5521-004-010

Schools near 620 North Serrano Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 6
Rating
School
Distance
Harvard Elementary School
PublicK to 5

Virgil Middle School
Public6 to 8

Fairfax Senior High School
Public9 to 12

Aspire Slauson Academy Charter
CharterK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The 2-4 Unit Specialists, Elizabeth Maddox, DRE #01921425; The 2-4 Unit Specialists, Ian Maddox, DRE #02030205

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.