5930 S Hoover Active

Los Angeles,CA 90044

$ 3995000

- Bed

- Bath

6709 SqFt


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 CRDW24243430

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

Building

Water Public

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