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.
Property Details
Price:
$3,995,000
MLS #:
DW24243430
Status:
Active
Baths:
0
Address:
5930 S Hoover
Type:
Residential Income
Subtype:
Commercial/Residential
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
Dec 2, 2024
State:
CA
ZIP:
90044
Lot Size:
10,554 sqft / 0.24 acres (approx)
Year Built:
1923
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Schools
Interior
Exterior
Community Features
Sidewalks
Garage Spaces
0.00
Lot Features
Lot 10000-19999 Sqft
Parking Features
Street
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
1
Water Source
Public
Financial
Map
Community
- Address5930 S Hoover Los Angeles CA
- AreaC37 – Metropolitan South
- CityLos Angeles
- CountyLos Angeles
- Zip Code90044
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5930 S Hoover
Los Angeles, CA
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