$2,099,999
4504 S Hoover Street
Los Angeles, CA 90037
10
Beds
9
Baths
6,342
Sq. Ft.
1908
Year Built
Los Angeles
County
ResidentialIncome
Property Type
About this home
Rare 9-unit value-add opportunity on the southeast corner of Hoover and W 45th, minutes from USC, Exposition Park, and the 110. Three buildings on one corner lot: two 2-story Spanish-style fourplexes plus a detached rear home, in all 8 one-bedroom units and 1 two-bedroom, 100% occupied. Approximately $107,300 in documented capital improvements since 2022, including new cool roofs on both fourplex buildings (2026), two full unit renovations, upgraded kitchens and baths, flooring, paint, water heaters, and electrical and plumbing repairs throughout. Four units are Section 8 with reliable HACLA-paid rents. Significant rental upside: most one-bedrooms rent well below the current HACLA payment standard of $1,793. Strong current cash flow with a clear path to a 6%+ cap rate at market rents. Additional income potential from an on-site laundry room with owner-owned machines. Units separately metered for gas and electricity. A clean, well-documented asset with detailed financials and improvement history available. Seller will cooperate with buyer's 1031 exchange.
Property Details
Architecture
Features & Amenities
Property Features
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Mortgage Estimate
$11,177/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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