543 N Hoover St - Apartments FOR SALE


Los Angeles, CA 90004
$1,695,000 USD
213-943-1897
543 N Hoover St, Los Angeles, CA for Sale
$1,695,000 USD
Apartments - FOR SALE
1/7
null | 4.81% Cap Rate

543 N Hoover St
Los Angeles, CA 90004


HIGHLIGHTS

  • Near Top Restaurants (Squirl, Courage Bagels, Bacari, Pine and Crane, All Day Baby) and High-End Grocers (Erewhon, Whole Foods)
  • Surrounded by Popular Bars and Coffee Shops (Cafe Organico, LAMILL, Intelligentsia) in Virgil Village, Sunset Junction, and Silver Lake
  • Over 72% Rental Upside Through Interior & Exterior Renovations
  • Family Owned & Operated for the Last 67 Years – A True Generational Asset
  • Located In Close Proximity to Silver Lake, Hollywood, Koreatown, and Downtown LA, Providing Renters Easy Access to Jobs and Nightlife

OVERVIEW

PLEASE 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 72% rental upside, unlocking significant long-term appreciation potential. 543-545 North Hoover Street offers substantial potential rental upside and appreciation in a thriving neighborhood.

FOR SALE DETAILS

PRICE

$1,695,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

8

PRICE/UNIT

$211,875

CAP RATE

4.81%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8-Unit Value-Add Near Silver Lake | 12.75 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,733 SF

ZONING

LAR3

APN/PARCEL ID

5539-028-008

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.