1056 S Serrano Ave, Los Angeles, CA, 90006
About This Home
Prime development opportunity in the heart of Koreatown. This rare offering includes two adjacent, tandem, corner to corner parcels—1056 S Serrano Ave (4 units) and 1057 S Hobart Blvd (3 units)—to be sold together, providing a combined lot size of approximately 12,518 square feet with R4-1 zoning. The properties currently feature a total of 7 units with approximately 6,448 square feet of living space. Situated in a high-demand, transit-oriented location, the site offers close proximity to public transportation, major freeways, and vibrant retail and commercial corridors. Located within a TOC Tier 3 zone, this property presents a compelling opportunity for increased density and future development potential. Ideal for developers or value-add investors seeking to capitalize on one of Los Angeles’ most dynamic neighborhoods. Please do not disturb tenants. Drive-by only.
Getting Around
Walker's Paradise
Good Transit
Very BikeableSchools
Construction
Condition
- Year built: 1937
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: None
Bedrooms & Bathrooms
- Bedrooms: 11
- Bathrooms: 10
Features
- Common walls with other units/homes: 2+ Common Walls
Interior Area
- Total structure area: 6,448
- Total interior livable area: 6,448 sqft
Property
Details
- Parcel number: 5080017021
- Attached to another structure: Yes
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Pool features: None
Lot
- Lot size: 0.28 Acres
- Features: Corner Lot
Parking
- Total spaces: 2
- Parking features: Garage
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in Los Angeles County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $13,900 | $166,800 |
| Home Insurance * | $625 | $7,500 |
| Property Taxes | $2,980 | $35,760 |
| Electricity | $1,382 | $16,592 |
| Total | $18,887 | $226,644 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-13 | Listed for sale | $2,899,000 |
| 2026-02-25 | Listing removed | $1,680,000 |
| 2025-02-25 | Listed for sale | $1,680,000 |
| 2024-11-20 | Listing removed | $1,650,000 |
| 2024-07-01 | Price change | $1,850,000 |
| 2024-01-15 | Listed for sale | $2,100,000 |
| 2022-09-21 | Listing removed | -- |
| 2022-02-18 | Listed for sale | $2,225,000 |
| 2022-01-18 | Listing removed | -- |
| 2021-08-18 | Listed for sale | $2,250,000 |
| 2001-07-26 | Sold | $340,000 |
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