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Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade
$ 3,400,000
Est. payment /mo
Price Dropped by $100K
5928 S Hoover ST Los Angeles, CA 90044
10,557 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR26075542
Style Spanish
Year Built 1923
Lot Size 10,557 Sqft
Source California Regional MLS
Property Description
Price Reduction! Renovated 15-unit building (13 Units + 2 Brand New Non-RSO ADUs) cash flowing at a whopping 8% In-place CAP Rate providing over 12% Cash-on-cash return. Major capital improvements completed including new roofs, new electrical, new plumbing, new double pane windows throughout, new exterior paint, new entrance gate, new landscaping, and 10 of the 13 units have been completely upgraded + 2 New ADUs in the back (Not Subject to Rent Control). It offers significant upside to a 9.4% Proforma CAP Rate upon the remaining 3 non-upgraded units turnover. Combine this high return + its newer year built + ease of maintenance, this offering is perfect for a 1031 exchange buyer or an experienced investor looking for high cash flow + easy to maintain assets. The main property was built in 1923 and completely renovated with permits in 2023. The building offers single-story spanish style units with an efficent mix for the area, consisting of ten (10) 1bed+1bath and five (5) Studio units. The property sits on a large 10,554 SF C2 zoned lot and includes RTI plans to convert 2 brand new ADUs into 6 ADUs, adding additional 4 units. It is centrally located in a highly desirable area just minutes away from the home of LAFC our city's premier professional soccer team, BMO Stadium, USC, Cr
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Rooms
Kitchen Hood Over Range, Oven Range - Gas, Refrigerator
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry None
Exterior
Parking Features No Parking
Pool 31, None
View None
Roof Type Flat / Low Pitch
Building
Lot Description Grade - Level
Story One Story
Water District - Public
Architectural Style Spanish
Others
Tax ID 6004031040
Special Listing Condition Not Applicable
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