REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$ 2,900,000
Est. payment | /mo
4,752 SqFt
$ 2,900,000
Est. payment | /mo
4,752 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,752 sqft
Price per Sqft $610
MLS Listing ID 26998265
HOA Y/N No
Year Built 1955
Lot Size 0.310 Acres
Property Description
Subject: Just Released: 15 Units in Central LA at $2.9M, 40% Delivered Vacant | 13291335 S. Hoover St. Hi, if you have a client sitting on equity, eyeing a 1031 exchange, or asking you about "investment property," this one's for them.I'm excited to share the updated Offering Memorandum for 13291335 S. Hoover Street. It's a 15-unit, two-building multifamily offering in Central Los Angeles (Pico-Union / Koreatown), now priced at $2,900,000. The full OM is attached. THE HEADLINE NUMBERS* Price: $2,900,000, or $193,333 per unit* 15 units across two buildings on two parcels (APNs 5056-008-016 & -017)* Approx. 13,500 SF total lot (approx. 6,750 SF per parcel)* Year-1 stabilized NOI: $194,170, a 6.70% cap rate on the asking price* Built 195562 | LAR4 zoning | 14 parking spaces | on-site laundry WHY IT STANDS OUT* 6 of 15 units (40%) are VACANT TODAY. They deliver straight to market with no cash-for-keys and no relocation.* Vacant units reset to market on lease-up under Costa-Hawkins, so a buyer creates value from day one.* Occupied rents average ~$577 vs. a ~$1,637 underwritten market rent, giving long-term upside on turnover.* Low basis: under $200K/unit vs. a ~$280310K metro average.* Prime location near Koreatown, Downtown LA, and USC. PERFECT FOR* 1031 exchange buyers* All-cash investors* Private equity and value-add groups* Your homeowner clients who are ready to trade up into income property LET'S WORK TOGETHERIf you have a buyer, a 1031 client, or someone who's been asking about getting into multifamily, I'd love to connect. Reach out with questions, to schedule a tour, or to talk through how we can team up on a deal.Thanks, and here's to closing more together!Best regards,Dimitri ScourkesSenior Vice President, Commercial DivisionColdwell Banker Commercial | Scourkes GroupDirect: 310.614.6341dimitri.scourkes@cbrealty.com | dimitri@scourkesgroup.comscourkesgroup.com | cbcworldwide.com301 N Caon Dr, Suite E, Beverly Hills, CA 90210CA License #01271646Retail * Investment Sales * NNN * Petroleum & Convenience Confidential. For qualified investors only. Not an offer to buy or sell. Figures are estimates. Confirm rent roll, RSO status, year built, and condition. Equal Housing Opportunity. 2026 Scourkes Group | Coldwell Banker Commercial.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR4
Interior
Heating Central
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Parking Features Covered
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Pets Allowed No
Senior Community No
Tax ID 5056008016
Special Listing Condition Standard
Pets Allowed No
Listed by Dimitri J.S. Scourkes Coldwell Banker Realty #01271646
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