4504 S Hoover Street, Los Angeles, CA 90037
- $2,300,000
- 10
- BD
- 9
- BA
- 6,342
- SqFt
- List Price
- $2,300,000
- Status
- ACTIVE
- MLS#
- 26986497
- Year Built
- 1908
- Bedrooms
- 10
- Bathrooms
- 9
- Living Sq. Ft
- 6,342
- Lot Size
- 6,540
- Acres
- 0.15
- Days on Market
- 0
- Property Type
- Multifamily
- Style
- Spanish
- Stories
- Two Levels, Multi Level
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.
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Additional Information
- Appliances
- Gas Range, Refrigerator, Vented Exhaust Fan
- Pool Description
- None
- Exterior Construction
- Stucco
- Roof
- Bitumen, Composition, Shingle
- Sewer
- Sewer Tap Paid
- Interior Features
- Ceiling Fan(s)
- Attached Structure
- Attached
- Number Of Units Total
- 9
Listing courtesy of Listing Agent: Eric Hecht (eric@hmmycorp.com) from Listing Office: Eric Hecht.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.