4504 S Hoover St

Los Angeles CA 90037

6342 sq. ft.

6540 sq. ft.

Other

Currently for sale - view listing

Overview

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.

Features

10 bedrooms

9 bathrooms

2 carspaces

2 open car spaces

6342 sq. ft. floor area

6540 sq. ft. lot size

Other

Property history for 4504 S Hoover St

2022

Sold

$1,950,000

20 Jan 2022 by Jordan Peikin, of Clement Partners Real Estate

2018

Sold

$979,000

09 Aug 2018 by Evan Garcia

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