6209 South Hoover Street
6209 South Hoover Street
$1,395,000
13
7
3,736
3,736
$373
Description
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...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.
- Listed by Brandon Evans • DRE #02058494 • Brokerage DRE #01380809 • Rosano Partners
Property Details for 6209 South Hoover Street
Zoning
LAC2
Cross StreetsHoover & 62nd St
Parcel Number6004013019
Total Units7.0
Living Area3736
Source Living AreaOther
AreaLos Angeles Southwest (C34)
Vacancy Rate3 units
Location
LISTING UPDATED: 05/22/2024 12:01 AM
Property Details for 6209 South Hoover Street
Status | Active |
---|---|
MLS # | 24-391891 |
Days on Market | 18 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1951 |
Lot Size | 0.15 AC / 6,603 SF |
County | Los Angeles County |
Location
Building Information for 6209 South Hoover Street
Stories2Residences-Year Built1951Building Size-Lot Size0.15 AC / 6,603 SF
Payment Calculator
$8,359 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 6209 South Hoover Street
Property History for 6209 South Hoover Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 6209 South Hoover Street
Taxable ValueLand$492,139Additions$164,045Total$656,184
Tax Record2023$8,949 ($746 / month)
Home Facts
Total Finished SqFt3,250 SqFtAbove Grade Finished SqFt3,250 SqFtLot Size6,601 SqFtStyleMulti-Family Res (5+ Units)Year Built1951ZoningLAC2CountyLOS ANGELESAPN6004-013-019
Schools near 6209 South Hoover Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Sixty-First Street Elementary School PublicK to 6 | ||
John Muir Middle School Public6 to 8 | ||
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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