971 South Hoover Street

Los Angeles, CA 90006

$3,690,000
Price
31
Beds
40
Baths
27,847 Sq. Ft.
$133 / Sq. Ft.
27,847
Sq. Ft.
$133
per Sq. Ft.

Description

Buy and build. Non rent controlled . Fully rti and shovel ready now: building permits paid! Above grade construction. Delivered vacant. Development opportunity for 39 Apartment units in an excellent Koreatown location with the first parking level going down only 5 feet of excavation and the balance of the construction to be built ABOVE GRADE! 25(+3) Parking spaces on 2 levels, plus 5 levels of residential and a roof deck. Very efficient design for a Class A apartment building project geared towards...

Property Details for 971 South Hoover Street

Zoning
LAR4
Year Built Numeric
2020

Property Details for 971 South Hoover Street

StatusWithdrawn / Cancelled
MLS #20-655904
Days on Market33
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2020
Lot Size0.22 AC / 9,463 SF
CountyLos Angeles County

Listing Agent

Tannaz Kamran-Rahbar

Keller Williams Rlty Brentwood

tannazrahbar@kw.com

P: 310.826.8200

M: 310.995.7545

DRE #00951232

Contact Agent(s)

Location

Listing Courtesy of Keller Williams Rlty Brentwood, Tannaz Kamran-Rahbar, DRE #00951232

Building Information for 971 South Hoover Street

Stories5Residences-Year Built2020Building Size-Lot Size0.22 AC / 9,463 SF

Payment Calculator

$12,366 per month

30 year fixed, 2.95% Interest

Principal and Interest

$12,366

Property Taxes

HOA Dues

$0

Similar Homes

Property Information for 971 South Hoover Street

Summary
    Location and General Information
  • Directions: Between Olympic and Wilshire Boulevards on Hoover Street
  • Year Built Source: Estimated
  • Zip 4: 1913
  • City: Los Angeles
  • Zip Code: 90006
  • County Or Parish: Los Angeles
  • Street Number Numeric: 971
  • Street Direction Prefix: S
  • Street Name: Hoover
  • State: CA
    Parking
  • Parking Garage: Above Street Level
  • Total Parking: 27
Property
    Property and Assessments
  • Assessed Improvement Percent: 20.0
  • Assessed Improvement Value: $290,000.00
  • Assessed Land Percent: 80
  • Assessor Parcel Number: 5076-006-007
  • Building Permit: Yes
  • Advertising Remarks: BUY AND BUILD. NON RENT CONTROLLED*. FULLY RTI AND SHOVEL READY NOW: BUILDING PERMITS PAID! ABOVE GRADE CONSTRUCTION.DELIVERED VACANT. Development opportunity for 39 Apartment units in an excellent Koreatown location with the first parking level going down only 5 feet of excavation and the balance of the construction to be built ABOVE GRADE! 25(+3) Parking spaces on 2 levels, plus 5 levels of residential and a roof deck. Very efficient design for a Class A apartment building project geared towards the affluent Millennial population of the LA area. Washer/Dryer in each unit. Land is 9,463 sf, Zoned R4-1 TOC TIER 3. Walk Score 94. NO RSO. NO ELLIS. NO LINKAGE FEE. *4 units are affordable. 35 units are NON RENT CONTROLLED. All rent amounts are estimated projections.
  • Disclosures: None
  • Probate: No
  • Source Living Area: Builder
  • Source Lot Size Area: Assessor
  • Source Lot Size Dimensions: Assessor
  • Number Of Photos: 6
    Lot Information
  • Listing Area: Mid-Wilshire (C17)
  • Lot Acreage: 0.2173
  • Lot Size Dimensions: 70x135
  • Other Structures: None
  • Service Level: Full Service
  • Living Area: 27847
  • Lot Size Area: 9463
Interior and Exterior Features
    Interior Features
  • Baths Total: 40.0
  • Cooling: None
  • Equipment: None
  • Heating: None
  • Number Of Stories: 5
  • Beds Total: 31
Multi Family
    Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Income: $984,468
  • Gross Operating Income: $984,486
  • Net Operating Income: $1.00
  • Total Annual Expense: 1
    Unit Information
  • Type Of Units: Apartments
  • Unit Type Type: 2106
    Unit 1 Information
  • Unit Beds1: 31
  • Unit Baths1: 40
  • Unit Projected Rent1: $82,039.00
  • Unit Actual Rent1: $82,039.00
  • Unit Furnished1: No
  • Like Units1: 39
  • Unit Rent1: $2,104.00
Rental
    Rental Information
  • Vacancy Rate: 100
  • Gross Rent Multiplier: $1.00
  • Number Of Buildings: 1
  • Number Of Units: 39

Property History for 971 S Hoover St

DateEvent & SourcePriceAppreciation
Dec 8, 2020

Withdrawn / Cancelled

CRMLS #20655904

Dec 8, 2020

Withdrawn / Cancelled

CRMLS #20576286

Dec 8, 2020

Withdrawn / Cancelled

CLAW #20-576286

$3,690,000
DateEvent & SourcePrice
12/08/2020

Withdrawn / Cancelled

CRMLS #20655904

12/08/2020

Withdrawn / Cancelled

CRMLS #20576286

12/08/2020

Withdrawn / Cancelled

CLAW #20-576286

$3,690,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 971 South Hoover Street

Taxable ValueLand$1,231,001Additions$307,750Total$1,538,751
Tax Record2019$18,386 ($1,532 / month)
Home Facts
Beds3Total Finished SqFt3,875 SqFtAbove Grade Finished SqFt3,875 SqFtLot Size9,463 SqFtStyleSingle Family ResidenceYear Built1907Year Renovated1907ZoningLAR4CountyLOS ANGELESAPN5076006007

Schools near 971 South Hoover Street


SchoolTypeGradesDistanceRating
Hoover Street Elementary SchoolPublicK-50.2 mi
8
Green Pastures Cultivation AcademyPrivate6-120.3 mi
NR
Equitas Academy Charter #2Charter5-80.3 mi
6
Korean Baptist Church SchoolPrivateK0.5 mi
NR

Hoover Street Elementary School

K-5, 0.2 mi, Public

8

Green Pastures Cultivation Academy

6-12, 0.3 mi, Private

NR

Equitas Academy Charter #2

5-8, 0.3 mi, Charter

6

Korean Baptist Church School

K, 0.5 mi, Private

NR

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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All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements and Compass expressly disclaims any liability in connection with such measurements.

Listing Courtesy of Keller Williams Rlty Brentwood, Tannaz Kamran-Rahbar, DRE #00951232

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, 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, 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.