5926 S Hoover Street
Los Angeles, CA 90044
6709 sqft | 10 beds | 0.24 acres | #25547103
Description
15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.25% Cap Rate and 11.5 GRM from day 1. The units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, 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 upside to 9% Cap Rate & 8.4 GRM on the proforma. Preliminary plans to convert the 2 existing detached ADUs into 6 detached ADUs (4 additional) to improve the numbers even further. 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 SubtypeResidentialIncome
- Property TypeMulti-Family
- InteriorCeilingFans
- CountyLos Angeles
- Original List Price$4,195,000
- MLS #25547103
- MLS #25547103
- Cost4195000
- Acres0.2424
- Square Feet6709
- Year Built1923
- Bedrooms10
- Stories1
Location
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Armin Soleimani (#CLW-C120232)
Listing Office: Global Platinum Properties, Inc. (#CLW-X82397)
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