5930 S Hoover Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90044
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,709 sqft
Price per Sqft $614
MLS Listing ID DW24198319
Year Built 1923
Lot Size 10,554 Sqft
Property Description
80% Vacant & Renovated 15-unit building with 12 vacancies cash flowing at an amazing 6.3% Cap Rate and 11.5 GRM from day1. The units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. On top of that, the major systems have been updated including brand new roofs, electrical, plumbing, HVAC, etc. and even a brand-new fire sprinkler system for all the units that will save you tons of money on insurance costs in California! Amazing 39% upside to 9.4% Cap Rate & 8.3 GRM on the proforma. Excellent up and coming location minutes from Banc of California Stadium, USC, & Inglewood. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. Large ~10,554 SF TOC Tier 3 lot zoned C2 with future redevelopment potential.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Laundry None
Exterior
Garage On Street
Pool None
Community Features Sidewalks
Building
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard