5324 S Hoover, Los Angeles, CA 90037

Property Description

Mixed-use value-add opportunity in South Los Angeles consisting of six units, including five residential units and one commercial space. The property contains approximately 4,268 SF of net rentable building area on a 5,227 SF lot and offers a combination of existing income and significant potential for future rent growth. The current unit mix includes two studios, two 1-bedroom/1-bath units, one 2-bedroom/1-bath unit, and one commercial space. The property also includes four garage/parking spaces, creating additional potential for income or possible ADU conversion, subject to applicable zoning, permitting, code requirements, and feasibility. The commercial component may also present an opportunity for conversion to residential use, subject to applicable approvals. Located in a central South Los Angeles location with convenient access to Downtown Los Angeles, USC, Inglewood, major freeways, and public transportation. The property's mixed-use configuration, existing residential units, garage area, and potential for increased rental income provide multiple avenues for long-term value creation.