6500 S Hoover, Los Angeles, CA 90044
- $730,000
- List Price
- $730,000
- Status
- ACTIVE
- MLS#
- PW26199476
- Year Built
- 1921
- Lot Size
- 6,571
- Acres
- 0.15
- Lot Location
- 2-5 Units/Acre
- Days on Market
- 133
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
NOW $730,000. Mixed-use property consisting of a retail storefront, detached 3BR/2BA residence and two storage spaces. Current gross income is $76,800/year, with the retail tenant paying $2,700/month on a month-to-month basis, the residence at $3,100/month and one storage space at $600/month. The second storage space has been fully remodeled and is currently vacant, creating an immediate lease-up opportunity with a target rent of $750/month. Leasing the vacant storage increases gross income to $85,800/year, with full pro forma gross income of $99,600/year. The month-to-month retail tenancy gives a buyer flexibility to retain the existing tenant, re-lease the storefront or pursue owner occupancy. Property includes 11 on-site parking spaces, ±2,854 SF of improvements on a ±6,569 SF lot and LAC2 zoning. $119,000 price reduction from the original asking price. Existing income, immediate lease-up and control of the retail component at a $730,000 entry price.
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Additional Information
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $76,800
- Operating Expense
- 26438
Listing courtesy of Listing Agent: Alexandro Colombo (info@colombocre.com) from Listing Office: Keller Williams Coastal Prop..
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