6209 South Hoover Street

Los Angeles, CA 90044

$1,395,000
Price
13
Beds
7
Baths
3,736 Sq. Ft.
$373 / Sq. Ft.
3,736
Sq. Ft.
$373
per Sq. Ft.

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.
  1. Listed by Brandon Evans • DRE #02058494 • Brokerage DRE #01380809 • Rosano Partners

Property Details for 6209 South Hoover Street

Zoning
LAC2
Cross Streets
Hoover & 62nd St
Parcel Number
6004013019
Total Units
7.0
Living Area
3736
Source Living Area
Other
Area
Los Angeles Southwest (C34)
Vacancy Rate
3 units

Location

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494
Add your commute
LISTING UPDATED: 05/22/2024 12:01 AM

Property Details for 6209 South Hoover Street

StatusActive
MLS #24-391891
Days on Market18
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
Lot Size0.15 AC / 6,603 SF
CountyLos Angeles County

Location

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494
Add your commute

Building Information for 6209 South Hoover Street

Stories2Residences-Year Built1951Building Size-Lot Size0.15 AC / 6,603 SF

Payment Calculator

$8,359 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,613

Property Taxes

$746

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6209 South Hoover Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartment
  • Security Features: Gated
  • Property Condition: Additions/Alter
  • Water: Public
  • Water Heaters: Yes
  • Additions Alterations: Yes
  • Building Permit: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $151,879
  • Net Operating Income: $97,779.00
  • Gross Income: $151,879
  • Cap Rate: 7.01%
  • Gross Rent Multiplier: $9.18
  • Actual Annual Gross Rent: $151,879.00
  • Vacancy Allow Dollar: $4,556.00
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 49544
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Paved: Yes
  • Lot Acreage: 0.1516
  • Lot Size Square Feet: 6603
Parking Details
Parking Details
  • Parking Garage: Driveway, Side By Side, Oversized, Gated
  • Total Parking: 10
  • Open Other Spaces Total: 10
  • Parking Features: Driveway, Side by Side, Oversized, Gated
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Laminate
  • Equipment: Range/Oven
  • Common Walls: Attached
  • Cooking Appliances: Gas/Electric Range
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Bldgs
Lease Terms
Lease Terms
  • Entry Date: 05-14-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,311.80
  • Unit Actual Rent: $3,935.40
  • Unit Projected Rent: $2,300.00
  • Like Units: 3
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,821.20
  • Unit Actual Rent: $1,821.20
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108

Property History for 6209 South Hoover Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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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6209 South Hoover Street is a multi-family home for sale in Los Angeles, CA 90044. This property was listed for sale on May 14, 2024 by Rosano Partners, it's currently listed at $1,395,000. It has been on the market for a total of 18 days and was last sold on June 27, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Sixty-First Street Elementary School, John Muir Middle School and Augustus F. Hawkins High A Critical Design And Gaming. 6209 South Hoover Street is a 13-bed, 7-bath, 3,736 sqft multi-family home built in 1951.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Rosano Partners, Brandon Evans, DRE #02058494

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.