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… Read More 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. Read Less
Property listed by Eric Hecht, Eric Hecht 310-259-7556
Listing Snapshot
Days Online
6
Last Updated
Beds
10
3/4 Baths
9
Square Ft.
6,342
Lot Size
0.15 Acres
Year Built
1908
MLS Number
26986497
Additional Details
Appliances & Equipment
GasRange, Refrigerator, VentedExhaustFan
Building
Built in 1908, Living area: 6342.0, 3 buildings, 2 stories, Levels: Two, MultiSplit, Construction Materials: Stucco
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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