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1537 N Serrano Avenue N, Los Angeles, California 90027, Los Angeles, 90027 - bed, bath

1537 N Serrano Avenue N, Los Angeles, California 90027 home-pic-0
ACTIVE$3,800,000
1537 N Serrano Avenue N, Los Angeles, California 90027
0Bed
0Bath
5,952Sqft
15,923Lot
Year Built
1919
Close
-
List price
$3.8M
Original List price
$3.8M
Price/Sqft
$638
HOA
-
Days on market
-
Sold On
-
MLS number
SR25271090
Home ConditionFair
Features
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $3.80M(50th), sqft - 5952(50th), beds - undefined(50th), baths - undefined(50th).

Eight charming Craftsman homes on a rare large approximately 16,000 sq. ft. TOC lot in a garden setting, beautiful mature trees, in Hollywood's entertainment and lifestyle neighborhood. Each home has been upgraded with granite counter tops, but still maintain the character and design of the Arts and Crafts design with built in generous sized cabinets, hardwood floors, front porch, side yard and a space for a personal garden for each of the homes. Within walking distance of public transportation, Target, Home Depot, Walgreens, Food 4 Less, Ralphs, Ross For Less, Pets Mart, Starbucks and other retail stores and restaurants. Close to Netflix offices, KTTV, Paramount Studios, KTLA and other entertainment venues. Due to its large lot size, explore the potential for developing a three story, multifamily project. Enjoy a strong gross income of $196,690 per annum during entitlement. All information provided with no warranties expressed or implied. Broker has not verified nor will broker verify the income or expenses or any other information. Buyer to perform its own due diligence and rely on its experts as to the value, current rents and potential market rents, property conditions, lot size or unit sizes.

Nearby schools

4/10
Grant Elementary School
Public,•K-6•0.4mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•0.8mi
3/10
Joseph Le Conte Middle School
Public,•6-8•0.7mi
6/10
Thomas Starr King Middle School
Public,•6-8•1.5mi
4/10
Helen Bernstein High School
Public,•9-12•0.5mi
6/10
Hollywood Senior High School
Public,•9-12•1.8mi
8/10
John Marshall Senior High School
Public,•9-12•1.8mi

Price History

Date
Event
Price
12/05/25
Listing
$3,800,000
11/17/20
Sold
$2,850,000
Condition Rating
Fair
Built in 1919, these Craftsman homes are over a century old. While the description mentions upgrades like granite countertops and maintained hardwood floors, it also emphasizes retaining original character and built-in cabinetry, suggesting a blend of minor updates with older features. The exterior images show well-preserved but clearly aged structures. The property is income-generating, indicating it's livable and maintained, but its advanced age suggests major systems and components are likely outdated, requiring ongoing upkeep and potential future repairs, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Significant Development Potential: The rare, large 16,000 sq. ft. TOC (Transit Oriented Communities) lot offers substantial opportunity for developing a three-story multifamily project, maximizing future value.
Strong Current Income Stream: The property currently comprises eight charming Craftsman homes generating a robust gross income of $196,690 per annum, providing immediate cash flow during any entitlement process.
Exceptional Location & Walkability: Situated in a prime Hollywood entertainment and lifestyle neighborhood, offering excellent walkability to public transportation, major retail, grocery stores, and proximity to entertainment industry employers.
Unique Architectural Charm: The property features eight individual Craftsman homes, each retaining original character with built-in cabinetry, hardwood floors, and private outdoor spaces, enhanced by recent granite countertop upgrades.
Multi-Unit Asset: Owning eight separate income-generating units provides diversification of tenants and income, potentially reducing vacancy risk compared to a single-unit investment property.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =15923, other record lot size in square feet = 15868.
Extensive Buyer Due Diligence Required: The listing explicitly disclaims warranties and places full responsibility on the buyer to verify all information, including income, expenses, and property conditions, indicating potential hidden risks or unverified data.
Advanced Age of Structures: Built in 1919, the homes are over a century old, which may lead to higher ongoing maintenance costs, potential for outdated systems, and unforeseen repair expenses.
Unverified Financials: The broker's statement that income and expenses are unverified presents a significant challenge for investors to accurately assess the property's true financial performance and profitability without independent verification.

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