6209 S Hoover Street
Los Angeles, CA, 90044 $ 1,395,000
Bedrooms13 Baths7.0 Sq 3,736 Monthly Estimate*
$ 9,272
Listed by Rosano Partners
for $1,395,000 with 13 bedrooms and 7 full baths. This 3,736 square foot home was built in 1951 on a lot size of 0.1516.
We are pleased to present 6209 S Hoover St, a 7-unit apartment community located in South Los Angeles, CA. The property is comprised of a 6-unit apartment building and a fully permitted detached ADU built in 2022. The building has an excellent unit mix of (6) 2 Bed, 1 Bath units and (1) 1 Bed, 1 Bath unit. This rare investment opportunity offers very strong cash flow and immediate upside with 3 current vacancies (all 2-bedroom units), allowing for an investor to achieve a 7%+ cap rate upon lease up at $2,300. Section 8 Voucher Payment Standards (per HACLA) are currently up to $3,052 for 2-bedroom units as of 2/2024. The property also sits on a 6,600 square feet lot zoned C2-1VL-CPIO with ED1 eligibility. The gated apartment community offers ample parking for up to 10 vehicles.6209 S Hoover St is centrally located just 3 miles from USC and Downtown with convenient access to the 110 freeway and walkability to Superior Grocers, CVS, Augustus Hawkins High School, John Muir Middle School, and Budlong Avenue Elementary School. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
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FeaturesGeneralHeating WallFurnace
Cooling WallWindowUnits
Possession CloseOfEscrow
Appliances GasRange
Zoning LAC2
Security Features GatedCommunity
Year Built 1951
Stories 2
Levels Two
Gross Income 151879.0
Community Features Gated
County Los Angeles
Net Operating Income 97779.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Hoover & 62nd St
City Los Angeles
View Y/N N
Senior Community Y/N N
Open Parking Spaces 10.0
NumberOfUnitsTotal 7
MLS Area C34 - Los Angeles Southwest
Lot Size Units SquareFeet
Lot Size Square Feet 6603.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Hoover
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Property Condition AdditionsAlterations
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 8
Standard Status Active
Occupancy Type Tenant
Year Built Source Assessor
Cap Rate 7.01
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InteriorFlooring Laminate
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Street
Total Bedrooms 13
Electric On Property Y/N N
Total Baths 7
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ExteriorParking Features Driveway Gated Oversized SideBySide
Total Parking 10.0
Lot Size Area 6603.0
Number of Buildings 2
Spa N
Building Area Total 3736.0
Lot Size Acres 0.1516
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $9,272
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,987,900
Percent of Sale Price 43%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/14/2024 | $1,395,000 | | Listed Price |