$ 3,995,000
5930 S Hoover Los Angeles, CA 90044
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,995,000
Est. payment /mo
Price Dropped by $130K
5930 S Hoover Los Angeles, CA 90044
10,554 Sqft Lot
UPDATED:
10/21/2024 11:32 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID DW24198319
HOA Y/N No
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
Area C37 - Metropolitan South
Interior
Fireplace No
Laundry None
Exterior
Garage On Street
Pool None
Community Features Sidewalks
Private Pool No
Building
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
Lease Land No
Listed by Jorge Lopez • Realty One Group United • 562-254-7772