1028 S Serrano Ave 0.14 Acres of Residential Land Offered at $2,092,800 CAD in Los Angeles, CA 90006

PartnersCRE is proud to present Serrano Apartments, an entitled 57-unit 100% affordable housing development located at 1028 S Serrano Avenue in Koreatown. This project has been carefully designed under California’s AB2345 and AB1763 state density bonus programs, delivering a rare opportunity to build a fully affordable community in one of Los Angeles’ most dynamic and high-demand neighborhoods. The approved development features a 7-story residential building totaling approximately 25,631 square feet. The unit mix is composed of 8 studio apartments and 49 one-bedroom apartments, offering compact and efficient layouts that meet the needs of today’s affordable housing market. The stacked design provides consistent floorplates, streamlined construction, and operational efficiency for long-term stability. Set on a 6,209 square foot parcel, the project achieves an impressive 6.52:1 FAR, nearly doubling the standard R4-1 by-right entitlement. Through AB2345 and AB1763 incentives, the plans incorporate increased density, height, and reduced yard and open space requirements, ensuring maximum value and utilization of the site. A major advantage of this development is its zero parking requirement, which significantly reduces construction costs while aligning with the project’s walkable, transit-accessible setting. The plans include 48 long-term and 5 short-term bicycle parking spaces, reinforcing the sustainable, urban design that complements Koreatown’s dense and transit-oriented character. With its state density bonus approvals, efficient design, and prime Koreatown location, 1028 S Serrano Avenue – Serrano Apartments – represents a premier opportunity for investors and developers. The project’s strong unit mix, cost-efficient building program, and fully affordable designation make it one of the most compelling housing opportunities currently available in Los Angeles.