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5930 1/2 S Hoover Terrace

Los Angeles (City), CA 90044
  • $1,695,000
  • STATUS: Active
  • ON SITE: 57 Days
  • ID#: DW21190350
$1,695,000
  • 0
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Description

8 Units + 2 ADUs with 5 Vacancies priced at only 186k/door and 282/SF. Large 5,760 SF bungalow-style value add Fixer + 850 SF of ADUs at anincredible Current Cap Rate of 9.4% and GRM of 8.3 after renovations. There is a 27% upside to 11.6% Cap Rate and 6.5 GRM on the Proforma.Excellent up and coming location minutes from Banc of California Stadium, USC, and Inglewood. Potential to reconfigure the layouts to createadditional beds and maximize rents. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Price/SF, Cap Rate, & GRM arebased on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity. Large 10,268 SFC2 Lot for future redevelopment.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/120906688
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5930 1/2 S Hoover Terrace Los Angeles (City), CA 90044

  • Price: $1,695,000
  • Status: Active
  • ID#: DW21190350
0
Beds
0
Baths
0
½ Baths
0.24
Acres
1923
Built
Neighborhood:
C23 - Metropolitan
County:
Los Angeles
Area:
C23 - Metropolitan
Property Description
8 Units + 2 ADUs with 5 Vacancies priced at only 186k/door and 282/SF. Large 5,760 SF bungalow-style value add Fixer + 850 SF of ADUs at anincredible Current Cap Rate of 9.4% and GRM of 8.3 after renovations. There is a 27% upside to 11.6% Cap Rate and 6.5 GRM on the Proforma.Excellent up and coming location minutes from Banc of California Stadium, USC, and Inglewood. Potential to reconfigure the layouts to createadditional beds and maximize rents. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Price/SF, Cap Rate, & GRM arebased on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity. Large 10,268 SFC2 Lot for future redevelopment.
Exterior Features

Number Of Separate Electric Meters 8 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features Sidewalks Electric Expense 7000 Fuel Expense 0 Garage YN No Gross Income 260304 Gross Scheduled Income 260304 Insurance Expense 2975 Land Lease YN No Laundry Features See Remarks Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New LoanConventional1031 Exchange Net Operating Income 216064 New Construction YN No Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Operating Expense 35 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 7000 Water Source Public

Listing provided courtesy of Jorge Lopez of Corcoran Global Living


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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