$1,395,000
- Beds
- 13
- sq ft
- 3,736
6209 S Hoover St, Los Angeles, CA 90044
6209 S Hoover St
Los Angeles, CA 90044
- 130 days on market
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 (4) 2 Bed, 1 Bath units and (3) 1 Bed, 1 Bath unit. This rare investment opportunity offers very strong cash flow with 5 Section 8 tenants in-place and a monthly income of $13,276.92. 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.
Details
Property type
Lot size
6,603 sq ft
Price per sq ft
$374
Year built
1951
HOA
No
Price History
09/17/2024
CLAW #24391891
Listed
$1,395,000
09/15/2024
CLAW #24391891
Removed
$1,395,000
07/15/2024
CLAW #24391891
Listed
$1,395,000
Schools & Community
Neighborhood:
South Los Angeles
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Gated
Community features:
Gated
Status: Active
Tomo last checked: 09/20/2024 at 11:35 PM
Listing updated: 09/17/2024 at 11:19 AM
Listed by: Brandon Evans, Rosano Partners Phone #: (213) 802-0305
MLS: CLAW #24391891
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