$3,500,000

5928 S Hoover Street, Los Angeles, CA 90044

  • 1 bed |
  • 2 baths
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon10,559sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 6 days ago

Property Description

7.75% In-Place CAP Rate - 11.16% 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. Turnkey 15-unit (10 Renovated Units + 2 brand new ADUs) Single-Story apartment building cash flowing at a whopping 7.75% In-place CAP Rate providing over 11% Cash-on-cash return. The Spanish Mission Style property has been completely upgraded with many significant CapEx such as: brand new gate, new exterior paint, 2 brand new ADUs (Not subject to rent control), new dual pane windows throughout, and new minimal landscaping, 10 out of the 13 units have been completely upgraded with high-end finishes. It offers significant upside to 9.38% 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. 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 units have been completely upgraded + 2 New ADUs in the back. The building offers efficient unit 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,

Listing Status:
Active
Date Added:
April 8, 2026
Data Last Updated:
April 15, 2026 at 4:12AM
Listing Office:
Growth Investment Group Pasade : 626-594-4900
Listing Agent:
Handoko Chen : 626-224-2495
MLS ID:
AR26075542
  • A/C: Wall/Window
  • General: N/K
  • Pool: N/K
  • General: Stucco1 Story
  • HOA Amenities: 0.0
  • Originating MLS: California Regional MLS
  • County: Los Angeles
  • Zoning: Assessor6004031040
  • Source: California Regional MLS

This listing courtesy of Handoko Chen , Growth Investment Group Pasade

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

6

61st Street Elementary School

6020 S Figueroa St, Los Angeles, CA, 90003

Grades KG-6

0.31 miles away

J

John Muir Middle School

5929 S Vermont Ave, Los Angeles, CA, 90044

Grades 6-8

0.31 miles away

A

Augustus F. Hawkins High School - Responsible Indigenous Social Entrepreneurship

825 W 60th St, Los Angeles, CA, 90044

Grades 9-12

0.08 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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