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830 S Hoover Street

Los Angeles, CA 90005

– beds
– baths
– sqft
6,310 sqft lot
1966 build
– on site

Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above, there are three office units, two of which are currently vacant, providing additional opportunities for rental growth. The occupied office unit is leased at $1,650, while the vacant units offer potential rents of $2,000 and $3,000. The residential component includes four apartments: a spacious three-bedroom, two-bathroom unit at $2,000, a studio at $1,400, a one-bedroom at $1,500, and another studio at $1,300. With a total rent potential of $19,590 per month, this property generates a Net Operating Income (NOI) of $176,310 annually, translating to a favorable cap rate of 6.1% and a Gross Rent Multiplier (GRM) of 12.3. Positioned in a prime location with high visibility and foot traffic, this property not only offers strong rental demand but also presents an incredible opportunity for value-add renovations in the vacant units. Whether you're looking to expand your real estate portfolio or step into a lucrative investment, 830 S. Hoover Street is a remarkable chance to capitalize on the dynamic local market. Don't miss out; contact us today to schedule a viewing or for more information!

Listed By CRMLS_CA / Jinglin Yue / Compass

Last checked: Checking… • Last updated Nov 7, 2024 •

MLS# 24445057 —

The Building

Year Built:

1966
New Construction:

No
Architectural Style:

See Remarks
Common Walls:

No Common Walls
Building Area Total:

8080.00
# of Buildings:

2
Total Number Of Units:

10
Stories Total:

2

Interior

Levels:

Two

Location

Directions:

Cross streets: S Hoover St and W 8th St
Latitude:

34.05669600
Longitude:

-118.28400800

The Property

Property Type:

Residential Income
Zoning:

LAC2
Lot Size Area:

6310.0000
Lot Size Acres:

0.1449
Lot Size SqFt:

6310.00
View:

1
View:

City Lights

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5141026007

Heating & Cooling

Heating:

1
Heating:

Central
Cooling:

No
Cooling:

None

Appliances

Included:

Yes

The Community

Senior Community:

No
Association:

No
Assessments:

No

Parking

Parking:

Yes
Parking:

Carport
Parking Spaces:

4.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
11/6/24 Nov 6, 2024	Price Changed	CRMLS_CA	$2,600,000	-6.8%
10/9/24 Oct 9, 2024	Price Changed	CRMLS_CA	$2,790,000	-3.8%
9/30/24 Sep 30, 2024	Listed / Active	CRMLS_CA	$2,900,000

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This multifamily located in Central LA, Los Angeles, CA 90005 is currently for sale for $2,600,000. 830 S Hoover Street is a – square foot multifamily with – beds and – baths that has been on Estately for 55 days. 830 S Hoover Street is in the Central LA neighborhood of Los Angeles and has a WalkScore® of 96, making it a walker’s paradise. This multifamily is in the attendance area of Belmont Senior High School, Hoover Street Elementary School, Miguel Contreras Learning Complex - Acdemic Ldrshp Community, Miguel Contreras Learning Complex - Business And Tourism, Ramon C Cortines School Of Visual And Performing Arts, Edward R. Roybal Learning Center, Miguel Contreras Learning Complex - Los Angeles School Of Global Studies, Miguel Contreras Learning Complex - School Of Social Justice, and Berendo Middle School.

Listing Courtesy of: CRMLS_CA and Compass. Based on information from California Regional Multiple Listing Service, Inc. as of 18:35 on Nov 24.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.