5928 S Hoover St - 7.75% CAP Turnkey 15-u - 11.16% Return 15 Unit Apartment Building Offered at $4,844,245 CAD at a 7.75% Cap Rate Los Angeles, CA 90044

7.75% In-Place CAP Rate - ±11.16% Cash-on-Cash Return! 15-Unit Turnkey Investment with 2 Brand New ADUs & RTI Expansion Plans. Heavily Upgraded Single-Story Spanish Mission Style Apartment. Ideal 1031 Exchange Property
Growth Investment Group California is pleased to present 5928 S Hoover St, a turnkey 15-unit (10 Renovated Units + 2 brand new ADUs) Single-Story apartment building with Spanish Mission Style architecture. The property has been completely upgraded with many significant CapEx such as: brand new gate, new exterior paint, 2 brand new ADUs, new dual pane windows throughout, new minimum landscaping, 10 out of the 13 units have been completely upgraded with high-end finishes. This turnkey investment offers a whopping 7.75% In-place CAP Rate providing over 11% Cash-on-cash return with minimum down payment. It offers a 9.38% Proforma CAP Rate upon the remaining 3 non-upgraded units turnover. Combine this high return + its newer year built + ease of maintenance, this offering is perfect for a 1031 exchange buyer or an experienced investor looking for high cash flow + easy to maintain assets.
The main property was built in 1923 and completely renovated with permits in 2023. Major capital improvements completed including new roofs, new electrical, new plumbing, new double pane windows throughout, new exterior paint, new entrance gate, new landscaping, and 10 of the original units have been completely upgraded. The building offers efficient unit mix for the area, consisting of ten (10) 1bed+1bath and five (5) Studio units. The property sits on a large 10,554 SF C2 zoned lot. The sale includes RTI plans to convert 2 brand new ADUs into 6 smaller ADUs, adding additional 4 units.
It is centrally located in a highly desirable area just minutes away from the home of LAFC our city’s premier professional soccer team, BMO Stadium, USC, Crypto Arena, Home of the Lakers, Clippers, and LA Kings.) Expo Park and the Metro Green Line. These properties are in a high density and high demand area which provides a consistent flow of renters for future vacancies.
The properties are individually metered for electricity and gas. It offers secure entrance. Parking is free on the street.
Location & Amenities
Centrally located in South Los Angeles, the property sits directly across the street from Augustus Hawkins High School and provides residents with unparalleled access to the city’s premier educational and entertainment centers.
• Sports & Entertainment: Walking distance to the LA Memorial Coliseum, BMO Stadium (Home of LAFC), and Exposition Park. Just a 10-minute drive to Crypto.com Arena (Home of the Lakers and Kings) and LA Live.
• Education & Culture: Only a 5-minute drive to the University of Southern California (USC). Surrounded by top-tier museums including the California Science Center, the Natural History Museum, and the highly anticipated George Lucas Museum of Narrative Art.
• Transit & Accessibility: Superb access to major employment hubs via the 110, 105, and 10 Freeways, as well as the Metro Green Line.
• Neighborhood Conveniences: Close proximity to a wide array of everyday amenities, shopping centers, grocery markets (Numero Uno), banking (Wells Fargo), and popular dining options.