5926 S Hoover St - Apartments FOR SALE


Los Angeles, CA 90044- Vermont Harbor
$4,195,000 USD
310-666-2246
5926 S Hoover St, Los Angeles, CA for Sale
$4,195,000 USD
Apartments - FOR SALE
1/26
null | 6.25% Cap Rate

5926 S Hoover St
Los Angeles, CA 90044
Vermont Harbor


HIGHLIGHTS

  • 6.25% Cap Rate and 11.5 GRM from day one.
  • New roofs, electrical, plumbing, HVAC systems, and a fire sprinkler system.
  • New fire sprinkler system reduces insurance costs in California.
  • Potential for 9% Cap Rate and 8.4 GRM.
  • Plans to convert 2 detached ADUs into 6 for increased revenue.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$4,195,000 USD

PRICE/SF

$625 USD /SF

# OF UNITS

15

PRICE/UNIT

$279,667

CAP RATE

6.25%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

15 Units - 6.25% Cap Rate from Day 1

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,554 SF

ZONING

C2

APN/PARCEL ID

6004-031-040

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.