Kidder Mathews is proud to offer the rare opportunity to acquire Sir Francis Drake, a 61-unit apartment building located at 841 Serrano Ave in the heart of Koreatown, one of Los Angeles' most vibrant and rapidly transforming neighborhoods. Built in 1929, this meticulously maintained, five-story property has undergone substantial renovations while still presenting significant value-add potential. The building features a highly sought-after unit mix, including 5 efficiency units, 42 studios, 13 one-bedroom/one-bath units, and 1 two-bedroom/two-bath unit, appealing to a diverse range of tenants. Designed by pioneering architect Edith Northman—one of Southern California’s first female architects and the first woman licensed in Los Angeles—this Spanish-style masterpiece boasts exceptional curb appeal. Architectural highlights include graceful archways, a lush, expansive courtyard, and a grand lobby adorned with elegant murals. The rooftop viewing tower offers panoramic 360-degree views of the city, further elevating the property's appeal. Sir Francis Drake presents a prime investment opportunity in a high-demand rental market. With strong upside potential through fur ther renovations, owners can increase income by upgrading additional units, enhancing common areas, adding amenities, and implementing RUBS. The property also features 33 on-site parking spaces—an especially coveted amenity in this dense, highly desirable area. Situated in one of Los Angeles’ most dynamic and well-connected neighborhoods, Sir Francis Drake offers easy access to entertainment, trendy dining, shopping, hotels, and nightlife. The property is less than a mile from the Wilshire/Western and Wilshire/Normandie Metro stations, providing seamless connectivity to the greater Los Angeles area. With strong cash flow, considerable value-add potential, and impressive long-term appreciation prospects, this property offers an exceptional opportunity to acquire a well-preserved asset in one of LA’s fastest-growing submarkets. *Concrete building. Non-ductile concrete retrofit is required.