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5926 Hoover Street, Los Angeles, CA 90044
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5926 Hoover Street
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  • MLS#: 25547103 ( )
  • Street Address: 5926 Hoover Street
  • Viewed: 1
  • Price: $4,195,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1923
  • Bldg sqft: 0
  • Days On Market: 6
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90044
  • Provided by: Global Platinum Properties, Inc.
  • Contact: Armin Armin
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    15 unit building with 12 Gut Renovated & Brand New Units cash flowing at an amazing 6.25% Cap Rate and 11.5 GRM from day 1. The units have been completely remodeled from the studs with permits and boast a high end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, as well as major exterior capital improvements. On top of that, the major systems have been updated including brand new roofs, electrical, plumbing, HVAC, etc. and even a brand new fire sprinkler system for all the units that will save you tons of money on insurance costs in California! Amazing upside to 9% Cap Rate & 8.4 GRM on the proforma. Preliminary plans to convert the 2 existing detached ADUs into 6 detached ADUs (4 additional) to improve the numbers even further. Excellent up and coming location minutes from Banc of California Stadium, USC, & Inglewood. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. Large ~10,554 SF TOC Tier 3 lot zoned C2 with future redevelopment potential.
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Features
Appliances
  1. Microwave
  2. Refrigerator
Architectural Style
  1. Bungalow
Building Area Total
  1. 6709.00
Country
  1. US
Heating
  1. Electric
Interior Features
  1. Ceiling Fan(s)
Levels
  1. One
Netoperatingincome
  1. 261978.00
Parcel Number
  1. 6004031040
Parking Features
  1. None
Postalcodeplus4
  1. 5519
Sourcesystemkey
  1. 25547103:CLAW
Totalexpenses
  1. 89966.00
Year Built
  1. 1923
Zoning
  1. LAC2