REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,500,000
Est. payment | /mo
1 Bed
2 Baths
10,557 Sqft Lot
$ 3,500,000
Est. payment | /mo
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
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "