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$ 2,300,000
Est. payment /mo
Active
4504 S Hoover Street Los Angeles, CA 90037
6,342 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,342 sqft
Price per Sqft $362
MLS Listing ID CL26986497
HOA Y/N No
Year Built 1908
Lot Size 6,540 Sqft
Acres 0.1501
Property Sub-Type Other
Property Description
Rare 9-unit value-add opportunity on the southeast corner of Hoover and W 45th, minutes from USC, Exposition Park, and the 110. Three buildings on one corner lot: two 2-story Spanish-style fourplexes plus a detached rear home, in all 8 one-bedroom units and 1 two-bedroom, 100% occupied. Approximately $107,300 in documented capital improvements since 2022, including new cool roofs on both fourplex buildings (2026), two full unit renovations, upgraded kitchens and baths, flooring, paint, water heaters, and electrical and plumbing repairs throughout. Four units are Section 8 with reliable HACLA-paid rents. Significant rental upside: most one-bedrooms rent well below the current HACLA payment standard of $1,793. Strong current cash flow with a clear path to a 6%+ cap rate at market rents. Additional income potential from an on-site laundry room with owner-owned machines. Units separately metered for gas and electricity. A clean, well-documented asset with detailed financials and improvement history available. Seller will cooperate with buyer's 1031 exchange.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Flooring Tile
Fireplace No
Laundry Common Area
Building
Water Other
New Construction No
Others
Tax ID 5018030013
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Listed by Eric Hecht • Eric Hecht