CA > Los Angeles
Los Angeles, CA 90005,830 S Hoover St
Los Angeles, CA 90005,830 S Hoover St
Los Angeles, CA 90005,830 S Hoover St
11
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$2,600,000
Est. payment /mo
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6 BD
10 BA
8,080 SqFt
Price Dropped by $190K

830 S Hoover St Los Angeles, CA 90005

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Nikki Bonifatto

Nikki Bonifatto

+1(702) 467-7343

UPDATED:

11/07/2024 02:41 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,080 sqft

Price per Sqft $321

MLS Listing ID 24-445057

Style Other

Bedrooms 6

Year Built 1966

Lot Size 6,310 Sqft

Acres 0.1449

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 Downtown L.A.

Zoning LAC2

Rooms

Other Rooms None

Interior

Heating Central

Cooling None

Equipment Other

Exterior

Garage Carport

Garage Spaces 4.0

View Y/N Yes

View City Lights

Building

Story 2

Architectural Style Other

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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830 S Hoover St