Mixed-Use Retail | Apartments - Value Add 5324 S Hoover St 5 Unit Apartment Building $1,220,800 CAD ($244,160 CAD/Unit) Los Angeles, CA 90037

Luigy Alvarez and Floyd Shaheen of Floyd Group at Marcus & Millichap are pleased to present 5324 S Hoover St a Mixed-Use property with commercial and apartment units nestled in the heart of the rapidly transforming University Park neighborhood. 5324 S. Hoover St stands as a major value-add opportunity making it ideal for investors looking to stabilize a distressed asset and add immediate value The building is 4,268 SF mixed-use building on a 5,228 SF lot, primed for extraordinary upside. The property is being sold in its current condition. Buyers independently verify all information to their satisfaction. 5324 S Hoover St features six units (one commercial space and five residential apartments), The Unit breakdown is as follows; One Studio/1 bath apartment, three 1-bed/1-bath apartments (ideal for young professionals or students near USC), one spacious 2-bed/1-bath unit for families and 1 commercial unit. Four units are generating revenue. The 2-bed/1-bath and three 1-bed/1-bath apartments are fully tenanted at low rents. The commercial space is vacant.
This strategic reset allows you to evict non-performers, reset to market rents, and boost NOI overnight without the drag of legacy encumbrances. There is a 4 car garage that offers a an investor the opportunity to add ADU’s. This property offers a canvas for transformative value add strategies. All leases are month-to-month, empowering a new owner to swiftly optimize operations and capitalize on setting market rents. Zoned C2-1VL-CPIO and strategically located in a Transit Oriented Communities (TOC) Tier 3 district, 5324 S. Hoover St unlocks the potential for a stunning 23-unit affordable housing redevelopment. This perfectly aligns with LA’s booming demand for workforce and supportive housing Positioned in area of major urban revitalization, 5324 S. Hoover St is literally next door to groundbreaking projects fueling the neighborhood’s ascent. Just next door at 5318 S. Hoover St, a shovel ready site for 57 Units of affordable housing development, anchoring the block with stable, community-focused energy. Mere blocks north at 7524 S. Hoover St, a sleek five-story, 79-unit affordable complex (reserved for low- and moderate-income households) is rising fast, set to welcome residents by late 2025.
This is South LA’s moment: Proximity to USC’s innovation hub, Metro rail expansions, and city-backed initiatives like the Hoover Village (a 67-unit supportive housing project nearby) are injecting millions in investment. South Los Angeles continues to attract strong public and private investment. 5324 S Hoover presents a compelling opportunity for re-tenanting, owner-occupancy, or a future repositioning play with significant upside.