5930 S Hoover Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90044
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,709 sqft
Price per Sqft $595
MLS Listing ID CRDW24198319
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1923
Lot Size 10,554 Sqft
Property Description
Huge 400k Price Reduction! 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.5% Cap Rate and 11.1 GRM from day 1. The units (3 vacant) 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 9.7% Cap Rate & 8 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
Interior
Fireplace No
Laundry No Hookups
Exterior
Parking Type On Street
Building
Water Public