5960 S HOOVER Street, Los Angeles, CA 90044
Property · 2 recorded sales since 2016
Sold December 2019
Listing Agent: Dani Behr (DRE #01948711) · Listing Office: Avenue Homes · Contact: 323-954-6420 · Bought with: Jack Harriman · Harriman Realty Group Inc · MLS #19514404 · Source: CRMLS
About this property
4,900 SF cash flow positive multifamily opportunity, consisting of 4 apartment units set on a 5,315 SF lot. This 2-story building has significant upside potential by increasing below market rents. Property needs light cosmetic upgrades and repairs and presents an excellent opportunity for a buyer looking to bring it to its full potential. The buildings central location and proximity to major thoroughfares and the 110 FWY makes it ideal for an investor looking for diverse tenancy mix. The subject property is located 2.5 miles from USC campus and 1.8 miles from Exposition Park. Current CAP rate of 5.1% with upside in market rents expected with the right operator. Unit mix includes one 3/2, one 3/1, one 6/2 and one 4/2 with 6 car parking lot and laundry room onsite. Total of 16 BD's and 7 BA's. Covered parking for each unit is securely located at the sides of the property. Building is fully gated and secured and currently 100% tenant occupied on long term month-to-month basis.
Listing description from the December 2019 sale, as reported to CRMLS.
Sale history
