5930 S Hoover
Los Angeles, CA 90044
0.24 acres | #DW24243430
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.
Property Details
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$3,995,000
- MLS #DW24243430
- MLS #DW24243430
- Property SubtypeMixedUse
- Cost3995000
- Acres0.2423
- Utility SourcePublic
- Year Built1923
- Stories1
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Jorge Lopez (#DWLOJORG)
Listing Office: Realty One Group United (#DWROG)
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