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$ 730,000
Est. payment /mo
Price Dropped by $55K
6500 S Hoover Los Angeles, CA 90044
6,568 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26098653
HOA Y/N No
Year Built 1921
Lot Size 6,568 Sqft
Property Sub-Type Mixed Use
Property Description
NOW $730,000. Mixed-use property consisting of a retail storefront, detached 3BR/2BA residence and two storage spaces. Current gross income is $76,800/year, with the retail tenant paying $2,700/month on a month-to-month basis, the residence at $3,100/month and one storage space at $600/month. The second storage space has been fully remodeled and is currently vacant, creating an immediate lease-up opportunity with a target rent of $750/month. Leasing the vacant storage increases gross income to $85,800/year, with full pro forma gross income of $99,600/year. The month-to-month retail tenancy gives a buyer flexibility to retain the existing tenant, re-lease the storefront or pursue owner occupancy. Property includes 11 on-site parking spaces, ±2,854 SF of improvements on a ±6,569 SF lot and LAC2 zoning. $119,000 price reduction from the original asking price. Existing income, immediate lease-up and control of the retail component at a $730,000 entry price.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Street Lights, Urban
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 6013015009
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Virtual Tour https://www.youtube.com/watch?v=A3zQbr-905Y
Listed by Alexandro Colombo Keller Williams Coastal Prop. 310-978-7950, DRE #01927702
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