2ND PRICE REDUCTION! 8% CAP - ±12% Cash-on-Cash Return! 15-Unit Turnkey

Highlights:

• Exceptional Day-One Returns: Outstanding 8% in-place CAP Rate, offering an estimated ±12% cash-on-cash return with standard financing.
• Strategically located across from Augustus Hawkins High School, minutes to USC, Exposition Park, BMO Stadium, LA Memorial Coliseum, nearby major transportation, and superb access to FWY 110
• Clear Value-Add Upside: Achieve a 9.7% Pro Forma CAP Rate simply by turning over the 3 remaining classic units, with further upside as each can be split into 2 units
• New Construction & Expansion Potential: Features 2 brand new ADUs (completed Sept 2024). The sale also includes Approved RTI plans to convert these into 6 smaller ADUs, instantly adding 4 more units to the parcel.
• Ideal 1031 Exchange: With the vast majority of capital expenditures already completed, this low-maintenance, high-cash-flowing asset is perfectly positioned for an exchange buyer.
• High-Demand Rental Market: Strategically located in a dense, transit-rich area with a massive tenant pool driven by nearby universities and major entertainment hubs.
• Optimized Unit Mix: Ten (10) 1-Bed/1-Bath units and five (5) Studio units.
• Architectural Appeal: Highly desirable single-story Spanish Mission Style layout featuring clean lines, a secure entrance gate, and low-maintenance landscaping.
• Significant CapEx Completed (2023): Major structural and cosmetic upgrades include new roofs, updated electrical and plumbing, new dual-pane windows throughout, and fresh exterior paint.

Description:

2nd PRICE REDUCTION! 8% In-Place CAP Rate - ±12% Cash-on-Cash Return!
15-Unit Turnkey Investment with 2 Brand New ADUs & RTI Expansion Plans
Heavily Upgraded Single-Story Spanish Mission Style Apartment
Ideal 1031 Exchange Property

Growth Investment Group California is pleased to present 5928 S Hoover St, a Renovated 15-unit building (13 Units + 2 Brand New ADUs) cash flowing at a whopping 8% In-place CAP Rate providing over 12% Cash-on-cash return. Major capital improvements completed including new roofs, new electrical, new plumbing, new double pane windows throughout, new exterior paint, new entrance gate, new landscaping, and 10 of the 13 units have been completely upgraded + 2 New ADUs in the back (Not Subject to rent control).

It offers significant upside to a 9.7% Proforma CAP Rate upon the remaining 3 non-upgraded units turnover. Combine this high return + its newer year built + ease of maintenance, this offering is perfect for a 1031 exchange buyer or an experienced investor looking for high cash flow + easy to maintain assets. The main property was built in 1923 and completely renovated with permits in 2023. The building offers single-story spanish style units with an efficent mix for the area, consisting of ten (10) 1bed+1bath and five (5) Studio units. The property sits on a large 10,554 SF C2 zoned lot and includes RTI plans to convert 2 brand new ADUs into 6 ADUs, adding additional 4 units.

It is centrally located in a highly desirable area just minutes away from the home of LAFC our city’s premier professional soccer team, BMO Stadium, USC, Crypto Arena, Home of the Lakers, Clippers, and LA Kings. ) Expo Park and the Metro Green Line. These properties are in a high density and high demand area which provides a consistent flow of renters for future vacancies. The units are individually metered for electricity and gas and tenants pay for trash therefore minimizing the operating expenses.

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