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Luda Phipps

info@ludaphipps.com +1(619) 277-5474

$ 2,300,000

Est. payment -/mo

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4504 S Hoover ST Los Angeles, CA 90037

10 Beds

9 Baths

6,342 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,342 sqft

Price per Sqft $362

MLS Listing ID 26986497

Bedrooms 10

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1908

Lot Size 6,538 Sqft

Property Description

Rare 9-unit value-add opportunity on the southeast corner of Hoover and W 45th, minutes from USC, Exposition Park, and the 110. Three buildings on one corner lot: two 2-story Spanish-style fourplexes plus a detached rear home, in all 8 one-bedroom units and 1 two-bedroom, 100% occupied. Approximately $107,300 in documented capital improvements since 2022, including new cool roofs on both fourplex buildings (2026), two full unit renovations, upgraded kitchens and baths, flooring, paint, water heaters, and electrical and plumbing repairs throughout. Four units are Section 8 with reliable HACLA-paid rents. Significant rental upside: most one-bedrooms rent well below the current HACLA payment standard of $1,793. Strong current cash flow with a clear path to a 6%+ cap rate at market rents. Additional income potential from an on-site laundry room with owner-owned machines. Units separately metered for gas and electricity. A clean, well-documented asset with detailed financials and improvement history available. Seller will cooperate with buyer's 1031 exchange.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAC2

Interior

Interior Features Ceiling Fan(s)

Flooring Tile

Fireplaces Type None

Fireplace No

Appliance Gas Range, Refrigerator, Vented Exhaust Fan

Laundry Common Area

Exterior

Parking Features Driveway, On Street

Pool None

Roof Type Bitumen,Composition,Shingle

Accessibility None

Porch None

Total Parking Spaces 2

Private Pool No

Building

Story 2

Entry Level Two,Multi/Split

Sewer Sewer Tap Paid

Architectural Style Spanish

Level or Stories Two, Multi/Split

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5018030013

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Eric Hecht Eric Hecht #01838199

Luda Phipps

Broker License ID: 02139266

+1(619) 277-5474

Luda Phipps

4504 S Hoover ST Los Angeles, CA 90037

Key Details

Location

Interior

Exterior

Building

Others

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4504 S Hoover ST