5930 South Hoover Street

Los Angeles, CA 90044

$3,995,000
Price
10
Beds
125
Baths
6,709 Sq. Ft.
$595 / Sq. Ft.
6,709
Sq. Ft.
$595
per Sq. Ft.

Description

Huge 400k Price Reduction! 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.5% Cap Rate and 11.1 GRM from day 1. The units (3 vacant) have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. On top of that, the major systems have been updated including brand new roofs, electrical, plumbing, HVAC,...Huge 400k Price Reduction! 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.5% Cap Rate and 11.1 GRM from day 1. The units (3 vacant) have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, 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 39% upside to 9.7% Cap Rate & 8 GRM on the proforma. 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.

Property Details for 5930 South Hoover Street

Parking Spaces Total
0
Private Pool
No
Total Units
15.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6709
Property Attached YN
false
Common Walls
No Common Walls
LISTING UPDATED: 12/03/2024 05:32 AM

Property Details for 5930 South Hoover Street

StatusActive
MLS #DW24243430
Days on Market17
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1923
Lot Size0.24 AC / 10,554 SF
CountyLos Angeles County

Building Information for 5930 South Hoover Street

Stories1Residences-Year Built1923Building Size-Lot Size0.24 AC / 10,554 SF

Property Information for 5930 South Hoover Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $357,613
  • Gross Scheduled Income: $357,613
  • Vacancy Allowance Rate: 80
  • Gross Operating Income: $346,884
  • Net Operating Income: $260,539
  • Gross Multiplier: 11.17
  • Cap Rate: 6.52
Expense Details
  • Operating Expense: $86,345
  • Gardener Expense: $1,800
  • Fuel Expense: $0
  • Electric Expense: $7,500
  • Insurance Expense: $8,028
  • Maintenance Expense: $7,500
  • Professional Management Expense: $13,875
  • Other Expense: $46,742
  • Other Expense Description: Taxes
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $86,345
Tax / Assessment Info
  • Tax Tract Number: 237...
  • Tax Lot: 18
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: Street Front
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: On street
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Street
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 10
  • Unit Type Baths Total: 10
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $19,082
  • Unit Type Total Rent: $19,082
  • Unit Type Pro Forma: 30466
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 5
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $10,660
  • Unit Type Total Rent: $10,660
  • Unit Type Pro Forma: 10660
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1

Property History for 5930 South Hoover Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 5930 South Hoover Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Sixty-First Street Elementary School
PublicK to 6

John Muir Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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5930 South Hoover Street is a mixed use property for sale in Los Angeles, CA 90044. This property was listed for sale on December 2, 2024 by Realty One Group United, it's currently listed at $3,995,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Sixty-First Street Elementary School, John Muir Middle School and Augustus F. Hawkins High A Critical Design And Gaming. 5930 South Hoover Street is a 10-bed, 125-bath, 6,709 sqft mixed use property built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty One Group United, Jorge Lopez, DRE #01220063

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.