Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify… Read More their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above, there are three office units, two of which are currently vacant, providing additional opportunities for rental growth. The occupied office unit is leased at $1,650, while the vacant units offer potential rents of $2,000 and $3,000. The residential component includes four apartments: a spacious three-bedroom, two-bathroom unit at $2,000, a studio at $1,400, a one-bedroom at $1,500, and another studio at $1,300. With a total rent potential of $19,590 per month, this property generates a Net Operating Income (NOI) of $176,310 annually, translating to a favorable cap rate of 6.1% and a Gross Rent Multiplier (GRM) of 12.3. Positioned in a prime location with high visibility and foot traffic, this property not only offers strong rental demand but also presents an incredible opportunity for value-add renovations in the vacant units. Whether you're looking to expand your real estate portfolio or step into a lucrative investment, 830 S. Hoover Street is a remarkable chance to capitalize on the dynamic local market. Don't miss out; contact us today to schedule a viewing or for more information! Read Less
Property listed by Compass, Jinglin Yue 310-230-5478
Listing Snapshot
Days Online
44
Last Updated
Property Type
Other
Beds
6
Square Ft.
8,080
Lot Size
0.14 Acres
Year Built
1966
MLS Number
24445057
30 Days Snapshot Of 90005
$1,392k
+29%
(avg) sold price
3
-62%
homes sold
93
-19%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1966, Building area total: 8,080, Levels: Two, Living area: 8080, 2 stories, 2 buildings, Architectural style: SeeRemarks, Common walls: NoCommonWalls
Cooling
None
Heating
Central
Income
Gross income: $235,080, Net operating income: $176,310
Lot
0.1449 acres, 6,310 square feet, Size: 6,310
Parking
4 totals parking, Carport
Property
Zoning: LAC2, CityLights
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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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