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5960 S Hoover St, Los Angeles, CA 90044
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5960 S Hoover St Los Angeles, CA 90044

$1,114,000 Sold Price as of 12/27/2019
  • 15 Beds
  • 7 Baths
  • -- Sq.Ft.
Sold
$1,114,000 Sold Price as of 12/27/2019 Refinance Your Mortgage
Map preview of 5960 S Hoover St, Los Angeles, CA 90044

Property Overview: 5960 S Hoover St Los Angeles, CA has 15 bedrooms, 7 bathrooms, -- living square feet and 5,315 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 4,900 SF cash flow positive multifamily opportunity, consisting of 4 apartment units set on a 5,315 SF lot. This 2-story building has significant upside potential by increasing below market rents. Property needs light cosmetic upgrades and repairs and presents an excellent opportunity for a buyer looking to bring it to its full potential. The buildings central location and proximity to major thoroughfares and the 110 FWY makes it ideal for an investor looking for diverse tenancy mix. The subject property is located 2.5 miles from USC campus and 1.8 miles from Exposition Park. Current CAP rate of 5.1% with upside in market rents expected with the right operator. Unit mix includes one 3/2, one 3/1, one 6/2 and one 4/2 with 6 car parking lot and laundry room onsite. Total of 16 BD's and 7 BA's. Covered parking for each unit is securely located at the sides of the property. Building is fully gated and secured and currently 100% tenant occupied on long term month-to-month basis.

Listed by Dani Behr | BRE #01948711 | Avenue Homes
Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 75

Home details

Lot Sq. Ft
5,315
HOA Dues
$0/mo
Year built
1964
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19514404
City
Los Angeles
County
Los Angeles
Time on Site
1353 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,648
  • Total Rent: $1,648
  • Pro Forma/Market Rent: $1,697
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,442
  • Total Rent: $1,422
  • Pro Forma/Market Rent: $1,485
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 6
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,060
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 4
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,102
  • Total Rent: $1,102
  • Pro Forma/Market Rent: $1,135
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 13.43
  • Gross Scheduled Income: --
  • Net Operating Income: $50,964
  • Gross Operating Income: $74,305
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5960 S Hoover St

Interior Features
Cooling Information
  • Has Cooling
  • Central Air
Heating Information
  • Has Heating
  • Central
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Parking Space
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 4
  • Parcel Number: 6004028030
Location / Neighborhood
Location Information
  • Directions: Vermont Avenue to 60th Street
View more facts & features

Local Los Angeles Agent

Sale History for 5960 S Hoover St

Last sold for $1,114,000 on December 27th, 2019

  • December, 2019

  • Dec 30, 2019

    Date

    Sold

    CRMLS: 19514404

    $1,114,000

    Price

  • Dec 24, 2019

    Date

    Pending

    CRMLS: 19514404

    $998,000

    Price

  • Dec 11, 2019

    Date

    Active Under Contract

    CRMLS: 19514404

    $998,000

    Price

  • Oct 15, 2019

    Date

    Active

    CRMLS: 19514404

    $998,000

    Price

  • December, 2019

  • Dec 27, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,114,000

    Price

  • May, 2018

  • May 21, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • September, 2017

  • Sep 28, 2017

    Date

    Expired

    CRMLS: SR17061911

    $989,000

    Price

  • Aug 18, 2017

    Date

    Withdrawn

    CRMLS: SR17061911

    $989,000

    Price

  • May 6, 2017

    Date

    Active

    CRMLS: SR17061911

    $989,000

    Price

  • May 6, 2017

    Date

    Price Change

    CRMLS: SR17061911

    $989,000

    Price

  • Apr 12, 2017

    Date

    Withdrawn

    CRMLS: SR17061911

    $1,500,000

    Price

  • Mar 29, 2017

    Date

    Price Change

    CRMLS: SR17061911

    $1,500,000

    Price

  • Mar 28, 2017

    Date

    Active

    CRMLS: SR17061911

    $1,750,000

    Price

  • Listing provided courtesy of CRMLS

    GREAT INCOME PROPERTY. Very desirable area for a rental property, it`s a dream come through for any investor. This beautifully-maintained 2 story building is located near restaurants and shopping centers & all amenities. Private laundry room in the back. Covered parking for each unit is securely located at the sides of the property accessed from two gates, its gated & secured all around the property. Convenient to Downtown LA. Please contact listing agent for more info. Buyer must do their own investigation. Sold AS_IS.

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Tax History for 5960 S Hoover St

Assessed Value (2020): $1,114,000
Year Land Value Improved Value Assessed Value
2020 $800,000 $314,000 $1,114,000

Home Value Compared to the Market

This property vs the competition

5960 S Hoover St sold on December 27, 2019 for 10.89% lower than the current median sold price for the city of Los Angeles which is $1,120,000.

About 5960 S Hoover St

Detailed summary of property

5960 S Hoover St is a multi family that recently sold in Los Angeles, CA 90044. This multi family property offered 15 bedrooms, 7 bathrooms, roughly -- living square feet, and sits on an approximately 5,315 square foot lot. 5960 S Hoover St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,114,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 10.89% lower than the current median priced home. Local homes that are currently for sale include 317 W 76th St, 6211 S San Pedro St and 6215 S San Pedro St. While the average home in Los Angeles, CA is selling in 106 days, 5960 S Hoover St has a days on market of 75 days. There are currently 4139 homes for sale in the Los Angeles real estate market and 2834 of them are single family homes while 1183 of them are condos and 115 are townhomes. For more information on this home for sale at 5960 S Hoover St Los Angeles, CA 90044 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5960 S Hoover St

Public county record property details
Beds
15
Baths
7
Year built
1964
Sq. Ft.
4,900
Lot Size
5,315
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
28
APN
6004-028-030

The source for these homes facts are from public records.

90044 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$649,900
Median List Price/Sq.Ft.
$518
Median Sold Price
$717,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
93
Median Sale to List Price %
102.58%
Avg Days on Market
27
Loan Type
Conventional (38.1%), FHA (23.81%), VA (0%), Cash (9.52%), Other (9.52%)

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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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