ActiveCommercial · sale

6500 S Hoover

Los Angeles, CA 90044

$730,000

  • 0.15 acres
  • Built 1921

Listed by Keller Williams Coastal Prop. · MLS #PW26199476

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6500 S Hoover, Los Angeles, CA 90044 · MLS #PW26199476

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A FEW THINGS TO NOTICE

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Year built

Built in 1921.

Property size

0.15 acres listed.

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THE PROPERTY

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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.

THE NEIGHBORHOOD

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6500 S Hoover, Los Angeles, CA 90044

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THE DETAILS

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Property type
CommercialSale
Category
Commercial
Year built
1921
Parcel
6013015009

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

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Listing information

MLS #PW26199476 · California Regional MLS

Listing brokerage: Keller Williams Coastal Prop.
Listing agent: Alexandro Colombo

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.