5930 Hoover , Los Angeles, CA 90044
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- MLS#: DW24198319 ( Commercial/Residential )
- Street Address: 5930 Hoover
- Viewed: 4
- Price: $3,995,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1923
- Bldg sqft: 0
- Days On Market: 93
- Additional Information
- County: LOS ANGELES
- City: Los Angeles
- Zipcode: 90044
- Provided by: Realty One Group United
- Contact: Jorge Jorge
- DMCA Notice
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DescriptionHuge 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 Location and Similar Properties
Features
Building Area Total
- 6709.00
Commoninterest
- None
Common Walls
- No Common Walls
Country
- US
Days On Market
- 63
Electric Expense
- 7500.00
Entry Location
- Street Front
Fuel Expense
- 0.00
Garage Spaces
- 0.00
Gardner Expense
- 1800.00
Insurance Expense
- 8028.00
Laundry Features
- None
Lockboxtype
- None
Lot Features
- Lot 10000-19999 Sqft
Netoperatingincome
- 260539.00
Number Of Separate Electric Meters
- 15
Number Of Separate Gas Meters
- 15
Otherexpense
- 46742.00
Otherexpensedescription
- Taxes
Parking Features
- Street
Pool Features
- None
Professionalmanagementexpense
- 13875.00
Property Type
- Commercial/Residential
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 423741637:CRM
Totalexpenses
- 86345.00
Trash Expense
- 0.00
Water Sewer Expense
- 0.00
Water Source
- Public
Year Built
- 1923
Year Built Source
- Assessor