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171 S Hoover St 6 Unit Apartment Building $4,700,072 CAD ($783,345 CAD/Unit) 5.81% Cap Rate Los Angeles, CA 90004
EXECUTIVE SUMMARY
171 S Hoover St is a FULLY LEASED, ultra-premium 2025 built 6-unit located in ultra trendy Silver Lake Adj., just 5 minutes from countless shops and restaurants and conveniences on Sunset Blvd.
This prime 6-unit will be delivered fully leased at a real 5.81% cap rate: a dream come true for 1031 exchange buyers! 171 S Hoover St is made up of three large 4-bedroom, two 2-bedroom, and one 3-bedroom tri-level townhome style unit! The property boasts 10 parking spots, all conveniently organized in carports (highly desirable by tenants) plus two bonus spots accessed by the front driveway. The excellent location, paired with the upscale modern units will make for quick, easy rentals time and time again!
These premium townhomes feature unbeatable floorplans with extremely large, tenant friendly kitchens and living rooms. You will find noteworthy features including, but not limited to designer tiles, all kitchen appliances included, large waterfall islands, modern glossy cabinets, high ceilings, huge closets, countless windows everywhere you look allowing for maximum light, natural wood waterproof vinyl, and more! In addition to the high return, buyers will enjoy other perks including tons of parking, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas and electric and water (tenants pay all utilities), and extreme desirability amongst renters for years to come. This one-of-a-kind opportunity will not last long!
This prime 6-unit will be delivered fully leased at a real 5.81% cap rate: a dream come true for 1031 exchange buyers! 171 S Hoover St is made up of three large 4-bedroom, two 2-bedroom, and one 3-bedroom tri-level townhome style unit! The property boasts 10 parking spots, all conveniently organized in carports (highly desirable by tenants) plus two bonus spots accessed by the front driveway. The excellent location, paired with the upscale modern units will make for quick, easy rentals time and time again!
These premium townhomes feature unbeatable floorplans with extremely large, tenant friendly kitchens and living rooms. You will find noteworthy features including, but not limited to designer tiles, all kitchen appliances included, large waterfall islands, modern glossy cabinets, high ceilings, huge closets, countless windows everywhere you look allowing for maximum light, natural wood waterproof vinyl, and more! In addition to the high return, buyers will enjoy other perks including tons of parking, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas and electric and water (tenants pay all utilities), and extreme desirability amongst renters for years to come. This one-of-a-kind opportunity will not last long!
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$353,506
|
$57.29
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,605
|
$1.72
|
| Effective Gross Income |
$342,902
|
$55.58
|
| Taxes |
$55,808
|
$9.05
|
| Operating Expenses |
$13,988
|
$2.27
|
| Total Expenses |
$69,796
|
$11.31
|
| Net Operating Income |
$273,105
|
$44.26
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $353,506 |
| Annual Per SF | $57.29 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $10,605 |
| Annual Per SF | $1.72 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $342,902 |
| Annual Per SF | $55.58 |
| Taxes (CAD) | |
|---|---|
| Annual | $55,808 |
| Annual Per SF | $9.05 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,988 |
| Annual Per SF | $2.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,796 |
| Annual Per SF | $11.31 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $273,105 |
| Annual Per SF | $44.26 |
PROPERTY FACTS
| Price | $4,700,072 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $783,345 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.81% | Building Size | 6,170 SF |
| Sale Condition | Build to Suit | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.3 | No. Stories | 3 |
| No. Units | 6 | Year Built | 2024 |
| Property Type | Multifamily | Parking Ratio | 0.97/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 | ||
| Price | $4,700,072 CAD |
| Price Per Unit | $783,345 CAD |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| Sale Condition | Build to Suit |
| Gross Rent Multiplier | 13.3 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 6,170 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 0.97/1,000 SF |
| Zoning | LAR3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Hardwood Floors
- Views
- Vinyl Flooring
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 2 | $4,146 CAD | 950 |
| 3+2.5 | 1 | $5,121 CAD | 1,247 |
| 4+3 | 1 | $5,538 CAD | 1,347 |
| 4+2.5 | 2 | $5,254 CAD | 1,247 |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (72)
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171 S Hoover St
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