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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 3,500,000

Est. payment | -/mo

1 Bed

2 Baths

10,557 Sqft Lot

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$ 3,500,000

Est. payment | -/mo

Save Virtual Tour

1 Bed

2 Baths

10,557 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR26075542

Bedrooms 1

Lot Size 10,557 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Renovated 15-unit building (13 Units + 2 Brand New ADUs) cash flowing at a whopping 7.75% In-place CAP Rate providing over 11% Cash-on-cash return. Major capital improvements completed including new roofs, new electrical, new plumbing, new double pane windows throughout, new exterior paint, new entrance gate, new landscaping, and 10 of the 13 units have been completely upgraded + 2 New ADUs in the back (Not Subject to rent control). It offers significant upside to a 9.38% Proforma CAP Rate upon the remaining 3 non-upgraded units turnover. Combine this high return + its newer year built + ease of maintenance, this offering is perfect for a 1031 exchange buyer or an experienced investor looking for high cash flow + easy to maintain assets. The main property was built in 1923 and completely renovated with permits in 2023. The building offers single-story spanish style units with an efficent mix for the area, consisting of ten (10) 1bed+1bath and five (5) Studio units. The property sits on a large 10,554 SF C2 zoned lot and includes RTI plans to convert 2 brand new ADUs into 6 ADUs, adding additional 4 units. It is centrally located in a highly desirable area just minutes away from the home of LAFC our citys premier professional soccer team, BMO Stadium, USC, Crypto Arena, Home of the Lakers, Clippers, and LA Kings. ) Expo Park and the Metro Green Line. These properties are in a high density and high demand area which provides a consistent flow of renters for future vacancies. The units are individually metered for electricity and gas and tenants pay for trash therefore minimiz

Location

State CA

County Los Angeles

Zoning Assessor

Direction 110 FWY, EXIT SLAUSON GO WEST AND THEN SOUTH ON HOOVER ST.

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 6004031040

Acceptable Financing Cash

Listing Terms Cash

Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10536

Listed by Handoko Chen, DRE#01749321 Growth Investment Group Pasade

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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5928 S Hoover Street Los Angeles, CA 90044