6500 S Hoover St - Retail FOR SALE


Los Angeles, CA 90044- South Central LA
$730,000 USD
310-978-7950
6500 S Hoover St, Los Angeles, CA for Sale
$730,000 USD
Retail - FOR SALE
1/28
null | Request Cap Rate

6500 S Hoover St
Los Angeles, CA 90044
South Central LA


HIGHLIGHTS

  • Four Income Streams — Retail, detached 3-bed/2-bath house, and 2 storage units
  • Retail Leased Month-to-Month — Ability to reset rents or occupy space near-term
  • On-Site Parking (11 Spaces)
  • Corner Mixed-Use Property with Hoover Street Frontage
  • Detached Residential Unit with Independent Access
  • LAC2 Zoning Supporting Mixed-Use Flexibility

OVERVIEW

NOW $730,000. Mixed-use property consisting of a retail storefront, detached 3BR/2BA residence and two storage spaces. Current gross income is $76,800/year, with the retail tenant paying $2,700/month on a month-to-month basis, the residence at $3,100/month and one storage space at $600/month. The second storage space has been fully remodeled and is currently vacant, creating an immediate lease-up opportunity with a target rent of $750/month. Leasing the vacant storage increases gross income to $85,800/year, with full pro forma gross income of $99,600/year. The month-to-month retail tenancy gives a buyer flexibility to retain the existing tenant, re-lease the storefront or pursue owner occupancy. Property includes 11 on-site parking spaces, ±2,854 SF of improvements on a ±6,569 SF lot and LAC2 zoning. $119,000 price reduction from the original asking price. Existing income, immediate lease-up and control of the retail component at a $730,000 entry price.

FOR SALE DETAILS

PRICE

$730,000 USD

PRICE/SF

$256 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Convenience Store, Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1921

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

LAC2

APN/PARCEL ID

6013-015-009

ASK ABOUT THIS PROPERTY

Alexandro ColomboCOLOMBO | KW CommercialMore Info
310-978-7950

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

Alexandro ColomboCOLOMBO | KW CommercialMore Info
310-978-7950

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