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    1056 S Serrano Ave Los Angeles, CA 90006

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    For Sale
    $1,680,000

    Two adjacent parcels in Koreatown, ideal for multifamily development.

    Lot size:
    0.14 Acres

    Property Features for 1056 S Serrano Ave

    General Information

    Lot size
    0.14 Acres

    Building Details

    Year built
    1937

    Source: New Star Realty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Koreatown Development Opportunity

    This property presents a development opportunity in Koreatown, featuring two adjacent parcels located at 1056 S. Serrano Ave and 1057 S Hobart Blvd. These parcels are being sold together, offering a combined lot size of approximately 12,518 square feet with R 4-1 zoning. The property includes a total of 7 units (3 units and 4 units), providing about 6,448 square feet of living space. Situated in a high-demand, transit-oriented area, the location offers convenient access to public transit, major freeways, and various retail and commercial hubs. Positioned within a TOC Tier 3 zone, the property is suitable for increased density and development. This opportunity is ideal for multifamily development or value-add investors.
    Location Intelligence

    Current Use by Public Records

    Best Employment Agency Employment Agency

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.30618
    Latitude
    34.05102

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    FAQs

    What type of property is this?
    Commercial land - Two adjacent parcels in Koreatown, ideal for multifamily development.
    Where is this commercial land located?
    The property is located at 1056 S Serrano Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,680,000.
    What are key features of this property?
    This property features: - Prime development opportunity in Koreatown.; - Combined lot size of approximately 12,518 SF with R4-1 zoning.; - Located in a high-demand, transit-oriented area near public transit, major freeways, and retail/commercial hubs.
    (213) 864-2145
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    1056 S Serrano Ave Los Angeles, CA 90006
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1056 S Serrano Ave Los Angeles, CA 90006
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