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Joahna Flores

joahnarealtor@gmail.com +1(858) 585-2559

$ 2,900,000

Est. payment | -/mo

4,752 SqFt

Save

$ 2,900,000

Est. payment | -/mo

Save

4,752 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,752 sqft

Price per Sqft $610

MLS Listing ID 26998265

HOA Y/N No

Year Built 1955

Lot Size 0.310 Acres

Property Description

15 Units in Central LA at $2.9M, 40% Delivered Vacant | 13291335 S. Hoover St. Hi, if you have a client sitting on equity, eyeing a 1031 exchange, or asking you about "investment property," this one's for them. I'm excited to share the updated Offering Memorandum for 13291335 S. Hoover Street. It's a 15-unit, two-building multifamily offering in Central Los Angeles (Pico-Union / Koreatown), now priced at $2,900,000. The full OM is attached. THE HEADLINE NUMBERS* Price: $2,900,000, or $193,333 per unit* 15 units across two buildings on two parcels (APNs 5056-008-016 & -017)* Approx. 13,500 SF total lot (approx. 6,750 SF per parcel)* Year-1 stabilized NOI: $194,170, a 6.70% cap rate on the asking price* Built 195562 | LAR4 zoning | 14 parking spaces | on-site laundry WHY IT STANDS OUT* 6 of 15 units (40%) are VACANT TODAY. They deliver straight to market with no cash-for-keys and no relocation.* Vacant units reset to market on lease-up under Costa-Hawkins, so a buyer creates value from day one.* Occupied rents average ~$577 vs. a ~$1,637 underwritten market rent, giving long-term upside on turnover.* Low basis: under $200K/unit vs. a ~$280310K metro average.* Prime location near Koreatown, Downtown LA, and USC. PERFECT FOR* 1031 exchange buyers* All-cash investors* Private equity and value-add groups* Your homeowner clients who are ready to trade up into income property LET'S WORK TOGETHER. If you have a buyer, a 1031 client, or someone who's been asking about getting into multifamily, I'd love to connect.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR4

Interior

Heating Central

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Microwave, Refrigerator

Exterior

Parking Features Covered

Building

Entry Level Two

Level or Stories Two

New Construction No

Others

Pets Allowed No

Senior Community No

Tax ID 5056008016

Special Listing Condition Standard

Pets Allowed No

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Dimitri J.S. Scourkes Coldwell Banker Realty #01271646

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(858) 585-2559

joahnarealtor@gmail.com

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1329 S Hoover ST Los Angeles, CA 90006