1329 S Hoover Street, Los Angeles, CA 90006
Local realty services provided by:Better Homes and Gardens Real Estate Wine Country Group
1329 S Hoover Street,Los Angeles, CA 90006
$2,900,000
- - Beds
- - Baths
- 4,752 sq. ft.
- Multi-family
- Active
Listed by: dimitri j.s. scourkes
Office: coldwell banker realty310-777-6200
MLS#:26998265
Source:CRMLS
Price summary
- Price:$2,900,000
- Price per sq. ft.:$610.27
About this home
15 Units in Central LA at $2.9M, 40% Delivered Vacant | 13291335 S. Hoover St. Hi, if you have a client sitting on equity, eyeing a 1031 exchange, or asking you about "investment property," this one's for them. I'm excited to share the updated Offering Memorandum for 13291335 S. Hoover Street. It's a 15-unit, two-building multifamily offering in Central Los Angeles (Pico-Union / Koreatown), now priced at $2,900,000. The full OM is attached. THE HEADLINE NUMBERS* Price: $2,900,000, or $193,333 per unit* 15 units across two buildings on two parcels (APNs 5056-008-016 & -017)* Approx. 13,500 SF total lot (approx. 6,750 SF per parcel)* Year-1 stabilized NOI: $194,170, a 6.70% cap rate on the asking price* Built 195562 | LAR4 zoning | 14 parking spaces | on-site laundry WHY IT STANDS OUT* 6 of 15 units (40%) are VACANT TODAY. They deliver straight to market with no cash-for-keys and no relocation.* Vacant units reset to market on lease-up under Costa-Hawkins, so a buyer creates value from day one.* Occupied rents average ~$577 vs. a ~$1,637 underwritten market rent, giving long-term upside on turnover.* Low basis: under $200K/unit vs. a ~$280310K metro average.* Prime location near Koreatown, Downtown LA, and USC. PERFECT FOR* 1031 exchange buyers* All-cash investors* Private equity and value-add groups* Your homeowner clients who are ready to trade up into income property LET'S WORK TOGETHER. If you have a buyer, a 1031 client, or someone who's been asking about getting into multifamily, I'd love to connect....
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Home facts
- Year built:1955
- Listing ID #:26998265
- Added:23 day(s) ago
- Updated:October 31, 2026 at 12:44 PM
Rooms and interior
- Kitchen Description:Microwave, Refrigerator
- Living area:4,752 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Central
Structure and exterior
- Year built:1955
- Building area:4,752 sq. ft.
- Lot area:0.31 Acres
- Levels:2 Story
Finances and disclosures
- Price:$2,900,000
- Price per sq. ft.:$610.27
Parking
- Parking description:Covered
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