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5930 S Hoover

Los Angeles (City), CA 90044
  • $2,495,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: DW22245106
UPDATED: 81 min ago
$2,495,000
  • 0
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): Jorge Lopez of Corcoran Global Living (562-861-7242)


Description

Huge 500k Price Reduction! 80% Vnt 15-Unit Fixer with 12 vacancies priced at only 210k/door with a 6.5% Cap Rate after renovations. FullyApproved RTI Plans to convert the current 5 vnt units into 10 vacant units plus 2 ADUs in the back. Incredible Current Cap Rate of 6.5% and11.6 GRM after renovations with 35% upside to 9.4% Cap Rate & 11.6 GRM on the proforma. Excellent up-and-coming location minutes from Bancof California Stadium, USC, & Inglewood. Individually metered for Gas & Electricity. Large 10,268 SF C2 Lot for future redevelopment. Price/Unit,Price/SF, Cap Rate & GRM are based on Total Price for sake of conservatism, which includes the remodeling cost of 10 vacant units 3,600 SF at125/SF (450k) plus construction cost of 2 ADUs 850 SF at 250/SF (210k).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-05T00:25:55.78. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
www.tolivebythesea.com/homes/134933999
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5930 S Hoover Los Angeles (City), CA 90044

  • Price: $2,495,000
  • Status: Active
  • On Site: 13 Days
  • Updated: 81 min ago
  • ID#: DW22245106
0
Beds
0
Baths
0
½ Baths
0.24
Acres
1923
Built
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
Huge 500k Price Reduction! 80% Vnt 15-Unit Fixer with 12 vacancies priced at only 210k/door with a 6.5% Cap Rate after renovations. FullyApproved RTI Plans to convert the current 5 vnt units into 10 vacant units plus 2 ADUs in the back. Incredible Current Cap Rate of 6.5% and11.6 GRM after renovations with 35% upside to 9.4% Cap Rate & 11.6 GRM on the proforma. Excellent up-and-coming location minutes from Bancof California Stadium, USC, & Inglewood. Individually metered for Gas & Electricity. Large 10,268 SF C2 Lot for future redevelopment. Price/Unit,Price/SF, Cap Rate & GRM are based on Total Price for sake of conservatism, which includes the remodeling cost of 10 vacant units 3,600 SF at125/SF (450k) plus construction cost of 2 ADUs 850 SF at 250/SF (210k).
Exterior Features

Number Of Separate Electric Meters 8 Parking Features On Street Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Cap Rate 6.5 Common Interest Community Apartment Community Features Sidewalks Electric Expense 21631 Fuel Expense 0 Garage YN No Gross Income 271420 Gross Scheduled Income 271420 Insurance Expense 3305 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Submit Maintenance Expense 3750 Net Operating Income 200991 New Construction YN No New Taxes Expense 35940 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Operating Expense 62286 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All Utilities Trash Expense 0 Vacancy Allowance 8142 Water Sewer Expense 0 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-05T00:25:55.78. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
 
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Beach City Brokers | BCB Premier Estates | The Miller Group
1716 South Catalina Avenue
Redondo Beach CA, 90277
Listing Agent(s): Jorge Lopez of Corcoran Global Living (562-861-7242)