15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.25% Cap Rate and 11.5 GRM from day 1. 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, 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 upside to 9% Cap Rate & 8.4 GRM on the proforma. Preliminary plans to convert the 2 existing detached ADUs into 6 detached ADUs (4 additional) to improve the numbers even further. 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.
Property Details
Price:
$4,195,000
MLS #:
25547103
Status:
Active
Baths:
0
Address:
5926 S Hoover Street
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Jun 2, 2025
State:
CA
ZIP:
90044
Lot Size:
10,557 sqft / 0.24 acres (approx)
Year Built:
1923
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Schools
Interior
Appliances
Microwave, Refrigerator
Heating
Electric
Interior Features
Ceiling Fan(s)
Exterior
Parking Features
None
Parking Spots
0.00
Stories Total
1
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Community
- Address5926 S Hoover Street Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90044
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5926 S Hoover Street
Los Angeles, CA
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