Multifamily Property At 1536 North Serrano Avenue Sold For $7.6 Million In East Hollywood

1536 North Serrano Avenue is a 42-unit multifamily property located in East Hollywood. The asset sold for $7,600,000, with a price per unit of $180,952. This property is categorized as LIHTC affordable housing, emphasizing its significance in the market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,600,000
• Units: 42
• Price Per Unit: $180,952
• Market: East Hollywood

The transaction involved the LAAA Team from Marcus & Millichap, represented by brokers Glen Scher and Filip Niculete. The sale entailed a complex 166-day escrow process that included multiple government approvals, specifically requiring sign-offs from TCAC and Measure ULA, alongside compliance corrections and agency financing.