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171 S Hoover St, Los Angeles, CA 90004
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171 S Hoover St Los Angeles, CA 90004

$4,500,000
  • 19 Beds
  • 15 Baths
  • 6,170 Sq.Ft.
For Sale
$4,500,000 Get Pre-Qualified
Map preview of 171 S Hoover St, Los Angeles, CA 90004

Property Overview: 171 S Hoover St Los Angeles, CA has 19 bedrooms, 15 bathrooms, 6,170 living square feet and 7,482 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: APPX 6% PROJECTED CAP BRAND NEW 2023 BUILT 6-PLEX NEAR SILVERLAKE / ECHO PARK Currently, the ONLY available New Construction 6-unit apartment on market in the area that CAN BE DELIVERED LEASED. It is an obvious choice for all 1031 Exchange buyers who would be enjoying perks such as NON RENT CONTROLLED BUILDING, BEING SEPARATELY METERED FOR ALL UTILITIES, EXTREMELY LOW MAINTENANCE building in an area that attracts CLASS-A TENANTS with high-income producing jobs due to proximity to super trendy locations near Silver Lake and Echo Park. Comprised of (3) 4 Bed 3 Bath units, (1) 3 Bed 2 Bath unit, (2) 2 Bed 2 Bath Units, and 12 Parking spaces, this unique property would be grossing approximately $336,000/Yr with minimal maintenance. These units are NOT your average new construction apartments. Quality you can see from high-end condos, meticulous design, solid finish, and the thoughtful layout on each and every unit allows tenants to easily imagine their living and make their decision on the spot! Just a few steps to Echo Park Lake, Tribal Cafe, Target on Temple, and so much more Close commute to Netflix, The Paramount studio, and entertainment industry employers and offices.

Listed by Vinnie Park | BRE #02015848 | Coldwell Banker Realty
Last checked: 26 seconds ago | Last updated: February 3rd, 2023 | Source CRMLS | DOM: 57
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Home details

Lot Sq. Ft
7,482
HOA Dues
$0/mo
Year built
1909
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
23236217
City
Los Angeles
County
Los Angeles
Time on Site
64 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $5,600
  • Total Rent: $5,600
  • Pro Forma/Market Rent: $5,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,350
  • Total Rent: $3,350
  • Pro Forma/Market Rent: $3,350
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,350
  • Total Rent: $3,350
  • Pro Forma/Market Rent: $3,350
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $5,600
  • Total Rent: $5,600
  • Pro Forma/Market Rent: $5,600
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $5,600
  • Total Rent: $5,600
  • Pro Forma/Market Rent: $5,600
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $4,500
  • Total Rent: $4,500
  • Pro Forma/Market Rent: $4,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.9%
  • Gross Rent Multiplier: 13.39
  • Gross Scheduled Income: --
  • Net Operating Income: $266,984
  • Gross Operating Income: $336,000
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 171 S Hoover St

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Property Details for 171 S Hoover St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 6
  • Parcel Number: 5501018016
  • Year Built Source: Assessor
  • Architectural Style: See Remarks
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: None
View more facts & features

Local Los Angeles Agent

Sale History for 171 S Hoover St

Last sold for $1,130,000 on February 19th, 2020

  • January, 2023

  • Jan 26, 2023

    Date

    Active

    CRMLS: 23236217

    $4,500,000

    Price

  • February, 2020

  • Feb 19, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,130,000

    Price

  • February, 2019

  • Feb 1, 2019

    Date

    Canceled

    CRMLS: 19429524

    $3,900

    Price

  • Jan 31, 2019

    Date

    Active

    CRMLS: 19429524

    $3,900

    Price

  • Listing provided courtesy of CRMLS

    Location! Location! Location! Close to everywhere - downtown, Silver Lake, Hollywood and Koreatown. Easy access to 101 Fwy. Clean large house move-in condition 5 bedrooms and 3 bathrooms with a larger backyard. Comes with refrigerator and washer/dryer. 1st Floor features a large living room area, the kitchen and dining room along with 1 bedroom/1 bathroom and laundry room. 2nd Floor includes 4 bedrooms with 2 bathrooms plus a bonus room and deck. This home also has a walk down basement which makes for great extra storage space and/or wine cellar. Cook's range for entertaining your family and friends. Bring your extended family or roommates. The backyard includes a garage converted to a recreation room and a large flat grassy area with mature avocado and guava trees. You will love this house and the location!

  • January, 2019

  • Jan 31, 2019

    Date

    Canceled

    CRMLS: 19429320

    $3,900

    Price

  • Jan 30, 2019

    Date

    Active

    CRMLS: 19429320

    $3,900

    Price

  • Listing provided courtesy of CRMLS

    Location! Location! Location! Close to everywhere - downtown, Silver Lake, Hollywood and Koreatown. Easy access to 101 Fwy. Clean large house move-in condition 5 bedrooms and 3 bathrooms with a larger backyard. Comes with refrigerator and washer/dryer. 1st Floor features a large living room area, the kitchen and dining room along with 1 bedroom/1 bathroom and laundry room. 2nd Floor includes 4 bedrooms with 2 bathrooms plus a bonus room and deck. This home also has a walk down basement which makes for great extra storage space and/or wine cellar. Cook's range for entertaining your family and friends. Bring your extended family or roommates. The backyard includes a garage converted to a recreation room and a large flat grassy area with mature avocado and guava trees. You will love this house and hte location!

  • January, 2019

  • Jan 19, 2019

    Date

    Sold

    CRMLS: 18400646

    $1,030,000

    Price

  • Dec 10, 2018

    Date

    Pending

    CRMLS: 18400646

    $998,500

    Price

  • Nov 24, 2018

    Date

    Active Under Contract

    CRMLS: 18400646

    $998,500

    Price

  • Nov 20, 2018

    Date

    Price Change

    CRMLS: 18400646

    $998,500

    Price

  • Oct 25, 2018

    Date

    Active

    CRMLS: 18400646

    $1,250,000

    Price

  • Listing provided courtesy of CRMLS

    HUGE PRICE REDUCTION!!! Decades of love have filled this gated 3000+ sqft turn of the century 5 bedroom 3 bathroom home situated on an *R3* lot totaling 7,482 sqft. This home, owned by the same family since the 1970s is the perfect opportunity to make it your own or for an investor and/or developer's next big project! Downstairs features a large living room area with fireplace just steps from the kitchen and dining room along with 1 bedroom/1 bathroom and laundry room. Upstairs includes 4 bedrooms with 2 bathrooms plus a bonus room and deck. This home also has a walk down basement which makes for great extra storage space and/or wine cellar. The backyard includes a garage converted to a recreation room and a large flat grassy area with mature avocado and guava trees. Located just minutes to Silver Lake and DTLA this property is truly a gem and a must see!

  • January, 2019

  • Jan 18, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,030,000

    Price

Show More

Tax History for 171 S Hoover St

Assessed Value (2020): $1,050,600
Year Land Value Improved Value Assessed Value
2020 $816,000 $234,600 $1,050,600

Home Value Compared to the Market

This property vs the competition

171 S Hoover St is listed 291.3% higher than the median list price for the city of Los Angeles which has a median list price of $1,150,000. The median price per/sqft for Los Angeles is $754 and this home is listed at $729.34 per/sqft which puts the price per square foot 3.27% lower than the median price per square foot for the city of Los Angeles.

About 171 S Hoover St

Detailed summary of property

171 S Hoover St is a multi family located in Los Angeles, CA 90004 and is currently for sale. This multi family property offers 19 bedrooms, 15 bathrooms, roughly 6,170 living square feet, and sits on an approximately 7,482 square foot lot. 171 S Hoover St was first listed on ArdentRealEstateGroup.com on January 27, 2023. The homeowner is currently asking $4,500,000. The median priced home in Los Angeles is $1,150,000 with a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 291.3% higher than the median priced home. Local competing homes currently for sale include 741 S Hobart Blvd, 2512 Berkeley Ave and 1435 S Westmoreland Ave. While the average home in Los Angeles, CA is selling in 93 days, 171 S Hoover St has a days on market of 57 days. There are currently 2842 homes for sale in the Los Angeles real estate market and 1976 of them are single family homes while 796 of them are condos and 63 are townhomes. For more information on this home for sale at 171 S Hoover St Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 171 S Hoover St

Public county record property details
Beds
5
Baths
3
Year built
1909
Sq. Ft.
3,149
Lot Size
7,482
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
15
APN
5501-018-016

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,985,000
Median List Price/Sq.Ft.
$897
Median Sold Price
$1,100,000
Median Sold Price/Sq.Ft.
$724
Total Inventory
45
Median Sale to List Price %
95.65%
Avg Days on Market
56
Loan Type
Conventional (20%), FHA (0%), VA (0%), Cash (20%), Other (20%)

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Recently Sold Homes Near 171 S Hoover St

225 S Hoover St, Los Angeles, CA 90004
$1,600,000 Last Sold Price
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4 Baths
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117 S Hoover St, Silver Lake, CA 90004
$1,565,000 Last Sold Price
9 Beds
6 Baths
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136 S Commonwealth Ave, Los Angeles, CA 90004
$1,190,000 Last Sold Price
11 Beds
6 Baths
3296 Sq.Ft.
136 S Commonwealth Ave
Los Angeles, CA 90004

Related Resources to 171 S Hoover St

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Nearby Zip Codes
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Other Los Angeles Resources

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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