8-Unit Value-Add Near Silver Lake | 543 N Hoover St
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8-Unit Value-Add Near Silver Lake 543 N Hoover St
8 Unit Apartment Building $1,720,000 ($215,000/Unit) 4.33% Cap Rate Los Angeles, CA 90004
Investment Highlights
- Near Top Restaurants (Squirl, Courage Bagels, Bacari, Pine and Crane, All Day Baby) and High-End Grocers (Erewhon, Whole Foods)
- Over 83% Rental Upside Through Interior & Exterior Renovations
- Located In Close Proximity to Silver Lake, Hollywood, Koreatown, and Downtown LA, Providing Renters Easy Access to Jobs and Nightlife
- Surrounded by Popular Bars and Coffee Shops (Cafe Organico, LAMILL, Intelligentsia) in Virgil Village, Sunset Junction, and Silver Lake
- Family Owned & Operated for the Last 67 Years – A True Generational Asset
Executive Summary
DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT LISTING TEAM FOR DETAILS.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present 543-545 North Hoover Street, an eight-unit apartment community located just minutes from the vibrant Sunset Junction neighborhood. Nestled in one of Los Angeles’ most walkable neighborhoods, this area has experienced a surge in popularity and rental demand, driven by an array of artisanal coffee shops, cafes, local retailers and bars.
Constructed in 1958 and 1962, the property features both one and two-bedroom units, with eight on-site parking spaces. Currently, tenants are paying below-market rents compared to similar properties in the area. By renovating the units and aligning rents with market rates, a savvy investor could realize an impressive 83% rental upside, unlocking significant long-term appreciation potential.
543-545 North Hoover Street offers substantial potential rental upside and appreciation in a thriving neighborhood.
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present 543-545 North Hoover Street, an eight-unit apartment community located just minutes from the vibrant Sunset Junction neighborhood. Nestled in one of Los Angeles’ most walkable neighborhoods, this area has experienced a surge in popularity and rental demand, driven by an array of artisanal coffee shops, cafes, local retailers and bars.
Constructed in 1958 and 1962, the property features both one and two-bedroom units, with eight on-site parking spaces. Currently, tenants are paying below-market rents compared to similar properties in the area. By renovating the units and aligning rents with market rates, a savvy investor could realize an impressive 83% rental upside, unlocking significant long-term appreciation potential.
543-545 North Hoover Street offers substantial potential rental upside and appreciation in a thriving neighborhood.
Property Facts
| Price | $1,720,000 | Apartment Style | Low Rise |
| Price Per Unit | $215,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.33% | Building Size | 7,062 SF |
| Gross Rent Multiplier | 13.7 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 1.69/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,720,000 |
| Price Per Unit | $215,000 |
| Sale Type | Investment |
| Cap Rate | 4.33% |
| Gross Rent Multiplier | 13.7 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,062 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.69/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 500 |
| 2+1 | 2 | - | 500 - 700 |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 5539-028-008 | Improvements Assessment | $135,049 |
| Land Assessment | $46,117 | Total Assessment | $181,166 |
PROPERTY TAXES
Parcel Number
5539-028-008
Land Assessment
$46,117
Improvements Assessment
$135,049
Total Assessment
$181,166
zoning
| Zoning Code | LAR3 |
| LAR3 |
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8-Unit Value-Add Near Silver Lake | 543 N Hoover St
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