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5928 S Hoover St

los angeles, CA 90044

$3,400,000

    Interested? Let's Connect

    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, Crypto Arena, Home of the Lakers, Clippers, and LA Kings. ) Expo Park and the Metro Green Line. These properties are in a high density and high demand area which provides a consistent flow of renters for future vacancies. The units are individually metered for electricity and gas and tenants pay for trash therefore minimizing the operating expenses.

    Details

    6,709 Sq Ft

    0.2424 Private Acres Lot Size

    apartment

    $3,463 Monthly Tax

    Built in 1923

    MLS/Listing ID AR26137954

    1 Stories

    15 Units

    Amenities & Features

    Vinyl

    Laminate

    Heating - Wall Furnace

    Lot - Street Level

    Lot - Rectangular Lot

    Lot - Near Public Transit

    Lot - Level

    Flat

    Public Sewer

    Public Water

    Refrigerator

    Range Hood

    Gas Range

    Style - Spanish

    Community - Urban

    Construction - Stucco

    Cooling - Wall/window unit(s)

    Wrought-iron

    Natural Wood

    Estimate my mortgage

    TOTAL MONTHLY COST

    $0

    • PRINCIPAL & INTEREST

      $0

    • PROPERTY TAXES

      $0

    • Common Charges

      $0

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