8905 S Hoover St - Apartments FOR SALE


Los Angeles, CA 90044- South Central LA
$850,000 USD
949-306-1175
8905 S Hoover St, Los Angeles, CA for Sale
$850,000 USD
Apartments - FOR SALE
1/9
null | 5.79% Cap Rate

8905 S Hoover St
Los Angeles, CA 90044
South Central LA


HIGHLIGHTS

  • UNIT MIX: ONE 1+1, ONE 2+1 SFR, & ONE 3+2 UNIT
  • THIRTY-TWO PERCENT RENTAL UPSIDE
  • 1+1 UNIT RECENTLY RENOVATED
  • NEWER ROOF ON BOTH STRUCTURES (2022)
  • LARGE DRIVEWAY WITH SIX PARKING SPACES
  • ADU POTENTIAL FOR 3 ADDITIONAL UNITS (BUYER TO VERIFY)

OVERVIEW

The unit mix consists of one 1+1 unit, one 2+1 SFR, and one 3+2 unit. The investment consists of approximately 3,415 of rentable square feet and is situated on an approximately 9,225 square foot parcel. Recent property upgrades include a full renovation of the 1+1 unit, new roof on both structures (2022), and new individual hot water heaters in all units. The building amenities include a large parking area with six total spaces as well as two garages. The large parcel and garages provide a new investor with an opportunity to increase cash flow by building three additional ADUs (buyer to verify). The subject property is located in the City of Los Angeles. The property is situated south of Manchester Avenue, North of 92nd Street, West of Figueroa Street, and East of Vermont Avenue. 8905 S. Hoover Street is located south of the redeveloping Downtown which is the central business district of Los Angeles as well as USC, one of the worlds largest leading private research universities. The property is also situated directly across the Street from the Algin Sutton Recreation Center, which includes basketball courts, baseball fields, tennis courts, and a swimming pool. This asset is in close proximity to local retail, schools, and the 110 & 105 freeways. Nearby public transportation includes the Metro Blue Line, which runs north and south along the 110 Freeway.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$249 USD /SF

# OF UNITS

3

PRICE/UNIT

$283,333

CAP RATE

5.79%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8905 S. Hoover Street - ADU Potential

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

6

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

LARD2

APN/PARCEL ID

6038-015-040

ASK ABOUT THIS PROPERTY

Griffin WhiteBRC Advisors - BH, Inc.More Info
949-306-1175

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Griffin WhiteBRC Advisors - BH, Inc.More Info
949-306-1175

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