5930 S Hoover

Los Angeles, CA 90044 $130,000.00 (-3.15%) Active for $3,995,000

Overview
Map & Location
Median Values
Schools & Score
Property History
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Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 10,554 sqft

Property Facts

MLS	DW24198319
Year Built	1923
Property Type	Mixed Use
County	Los Angeles
Status	Active
Active	$3,995,000
Structure Size	N/A sqft
Lot Size	10,554 sqft
Beds	N/A
Baths	N/A

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.

Listing information courtesy of: Jorge Lopez, Realty One Group United 562-861-7242. *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.