6500 S Hoover, Los Angeles, CA 90044
List Price: $730K
Listing Status: Active
Original List Price: $849K
0Days on Market: 121
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1921
Lot Size: 6,571 sq ft
Private Pool: Yes
MLS Number: PW26098653
About This Property
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.
Listing provided by: Alexandro Colombo DRE #01927702 562-961-1400 info@colombocre.com, Keller Williams Coastal Prop.
Source: CRMLS, MLS #: PW26098653
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.