6533 S Hoover Street, Los Angeles, CA 90044

Property Description

Check out this new six-unit listing in South Los Angeles. The complex is located west of the Harbor (110) freeway between Florence and Gage Avenues. The property consists of all 1-bedroom apartments, contained in three duplexes, that rent for between $859 and $1,200 per month. The total monthly income is $6,107 and the annual gross is $73,284. The rents are well below market for the area, so that presents plenty of upside potential for a new, aggressive operator. Listed at only $126,666 per unit, this is a great value play for a long-term or beginner investor. Rents should nearly double upon turnover because tenants seek and appreciate this style of apartment living. The structures were built in 1927 and contain a total of 3,564 square feet; that's almost 600 square feet per unit! They are situated on a 6,535 square foot lot which is zoned LAR1.5. This is another great deal that will not last. Call or email for more details. Please do not walk onto property or disturb tenants. Showings with accepted offers only.