We are pleased to present 6209 S Hoover St, a 7-unit apartment community located in South Los Angeles, CA. The property is comprised of a 6-unit apartment building and a fully permitted detached ADU built in 2022. The building has an excellent unit mix of (4) 2 Bed, 1 Bath units and (3) 1 Bed, 1 Bath unit. This rare investment opportunity offers very strong cash flow with 5 Section 8 tenants in-place and a monthly income of $13,276.92. Section 8 Voucher Payment Standards (per HACLA) are currently up to $3,052 for 2-bedroom units as of 2/2024. The property also sits on a 6,600 square feet lot zoned C2-1VL-CPIO with ED1 eligibility. The gated apartment community offers ample parking for up to 10 vehicles.6209 S Hoover St is centrally located just 3 miles from USC and Downtown with convenient access to the 110 freeway and walkability to Superior Grocers, CVS, Augustus Hawkins High School, John Muir Middle School, and Budlong Avenue Elementary School. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
Property Details
Price:
$1,395,000
MLS #:
24391891
Status:
Active
Baths:
0
Address:
6209 S Hoover Street
Type:
Residential Income
Neighborhood:
c34losangelessouthwest
City:
Los Angeles
Listed Date:
May 14, 2024
State:
CA
ZIP:
90044
Lot Size:
6,603 sqft / 0.15 acres (approx)
Year Built:
1951
See this Listing
Mortgage Calculator
Schools
Interior
Appliances
Gas Range
Cooling
Wall/ Window Unit(s)
Flooring
Laminate
Heating
Wall Furnace
Exterior
Parking Features
Driveway, Side by Side, Oversized, Gated
Parking Spots
10.00
Security Features
Gated Community
Stories Total
2
Financial
Map
Community
- Address6209 S Hoover Street Los Angeles CA
- AreaC34 – Los Angeles Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90044
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Courtesy of Rosano Partners. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
6209 S Hoover Street
Los Angeles, CA
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