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5316 S Hoover Street

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5316 S Hoover Street | Los Angeles, CA

$778,900

4,080 SQ.FT.

DEVELOPERS SPECIAL! GREAT LOCATION! CAP RATE 5.4%! Located 2 miles from the coliseum and 4 miles to staples center in a growing area of Los Angeles. This property is a MIXED USE RESIDENTIAL & COMMERCIAL PROPERTY. You can BUILD up to 18 UNITS ( does not need low income) or more with the right plan that has to include low income housing. Current ANNUAL INCOME $55,200. 4 residential units with a commercial unit store front ( currently used as a 4 bedroom) . There are so many uses for this Property zoned LAC2. It can be used as all residential, all commercial or mixed use. TOTAL OF 5 UNITS! All the units are currently RENTED . Seller may be interested in doing a joint venture of development. Hurry now before this property is GONE. This area is growing fast and the properties are getting snatched up quickly for re development. Perfect opportunity for investor, long time investment or business.(buyer to verify all info with city).Seller willing to deliver property vacant with a offer for $800,000)
Listing Provided by Tonja Bambrook, Keller Williams Realty

Based on information from California Regional Multiple Listing Service, Inc. as of March 18, 2019. 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.