$ 2,600,000
830 S Hoover ST Los Angeles, CA 90005
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,600,000
Est. payment /mo
Price Dropped by $190K
830 S Hoover ST Los Angeles, CA 90005
6 Beds
10 Baths
8,080 SqFt
UPDATED:
11/07/2024 03:52 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,080 sqft
Price per Sqft $321
MLS Listing ID 24445057
Bedrooms 6
HOA Y/N No
Year Built 1966
Lot Size 6,311 Sqft
Property Description
Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above, there are three office units, two of which are currently vacant, providing additional opportunities for rental growth. The occupied office unit is leased at $1,650, while the vacant units offer potential rents of $2,000 and $3,000. The residential component includes four apartments: a spacious three-bedroom, two-bathroom unit at $2,000, a studio at $1,400, a one-bedroom at $1,500, and another studio at $1,300. With a total rent potential of $19,590 per month, this property generates a Net Operating Income (NOI) of $176,310 annually, translating to a favorable cap rate of 6.1% and a Gross Rent Multiplier (GRM) of 12.3. Positioned in a prime location with high visibility and foot traffic, this property not only offers strong rental demand but also presents an incredible opportunity for value-add renovations in the vacant units. Whether you're looking to expand your real estate portfolio or step into a lucrative investment, 830 S. Hoover Street is a remarkable chance to capitalize on the dynamic local market. Don't miss out; contact us today to schedule a viewing or for more information!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Heating Central
Cooling None
Fireplace No
Exterior
Garage Carport
View Y/N Yes
View City Lights
Parking Type Carport
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Architectural Style See Remarks
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5141026007
Special Listing Condition Standard
Listed by Jinglin Yue • Compass