1167 S Hoover St
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1167 S Hoover St
35 Unit Apartment Building $13,000,000 ($371,429/Unit) 4.27% Cap Rate Los Angeles, CA 90006
Executive Summary
Dream Realty, as the exclusive listing agent, is pleased to offer for sale 1167 S HOOVER ST , 35-unit apartment community. 1167 S HOOVER is located ,in the Westlake submarket of Los Angeles. Situated on a 14,160 square foot parcel, the property is comprised of 3 studio, 29 of one bedroom units and 3 two-bedroom units. Due to its 2016 construction, 1167 S HOOVER ST is not subject to Los Angeles City Rent Control.1167 S HOOVER ST in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is located a short distance from venues in the "Downtown Sport Park" Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium & more, which bode well for the long this neighborhood.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $13,000,000 | Apartment Style | Low Rise |
| Price Per Unit | $371,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 4.27% | Building Size | 30,965 SF |
| Gross Rent Multiplier | 15.75 | Average Occupancy | 100% |
| No. Units | 35 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2016 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $13,000,000 |
| Price Per Unit | $371,429 |
| Sale Type | Investment |
| Cap Rate | 4.27% |
| Gross Rent Multiplier | 15.75 |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 30,965 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2016 |
| Opportunity Zone |
Yes |
Site Amenities
- Laundry Facilities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 587 - 670 |
| 1+1 | 29 | - | 678 - 700 |
| 2+1 | 3 | - | 869 |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (77)
Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 5076-014-042 | Improvements Assessment | $5,513,715 (2024) |
| Land Assessment | $1,812,717 (2024) | Total Assessment | $7,326,432 (2024) |
PROPERTY TAXES
Parcel Number
5076-014-042
Land Assessment
$1,812,717 (2024)
Improvements Assessment
$5,513,715 (2024)
Total Assessment
$7,326,432 (2024)
-
Erica Jung -
Dream Realty & Investments, Inc.
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1167 S Hoover St
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