Bungalow

5926 S Hoover Street

Los Angeles , CA 90044

MLS#: 25580217

$3,995,000

Status: Active
Listing number: 25580217
Listing provided by: Global Platinum Properties, Inc.
Listing agent phone: None
Last update: 3 hours ago
New on site 1 day ago
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Property

Beds

10

Full Baths

None

1/2 Baths

None

Year Built

1923

Sq.Footage

6,709

Price Reduction! Existing 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.6% Cap Rate and 11 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 9.6% Cap Rate & 8 GRM on the proforma. Additionally, there are preliminary plans to convert the 2 existing brand-new 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.

Features & Amenities

Interior

  • Other Interior Features

    Ceiling Fan(s)

  • Total Bedrooms

    10

  • Bathrooms

    N/A

  • Heating YN

    YES

  • Heating

    Electric

Exterior

  • Garage

    No

  • Parking

    None

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.2424

  • Property Type

    Residential Income

  • Architectural Style

    Bungalow

Price

  • Sales Price

    $3,995,000

  • Sq. Footage

    6, 709

  • Price/SqFt

    $595

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    1

  • Senior Community YN

    NO

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Location

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Los Angeles

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Listing Courtesy of Armin Soleimani , Global Platinum Properties, Inc.

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Price Reduction! Existing 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.6% Cap Rate and 11 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 9.6% Cap Rate & 8 GRM on the proforma. Additionally, there are preliminary plans to convert the 2 existing brand-new 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.

5926 S Hoover Street

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