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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$8,250,000

Est. payment - /mo

60 Beds

36 Baths

25,824 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 25,824 sqft

Price per Sqft $319

MLS Listing ID 26990435

Bedrooms 60

HOA Y/N No

Year Built 1987

Lot Size 0.724 Acres

Property Description

4040-4060 S Hoover Street is a substantially renovated 24-unit apartment community in University Park, less than a mile from USC and Exposition Park. The offering consists of three separate parcels sold together as a single package: two 12-unit multifamily parcels (4040 and 4060 S Hoover) and a dedicated parking lot parcel. Two buildings total 25,824 SF on a 31,561 SF lot. Built in 1987 and not subject to LA RSO.Ownership has completed a comprehensive renovation and capital improvement program. Nineteen of 24 units are fully renovated with quartz kitchen countertops, full stainless steel appliance packages, in-unit stackable washer/dryer, hardwood laminate flooring, designer-tiled bathrooms, private balconies, central A/C and heat, and custom paint with faux wood blinds. Five unrenovated units offer additional upside at turnover, and rents on select units remain below market.Major capital improvements include replacement of all windows with dual-glazed, NFRC-certified, Title 24-compliant units, all-new plumbing, and new roofing, with the roof and window work permitted through LADBS. Additional upgrades include a full security camera system, new exterior lighting, hardscaped courtyards, refreshed landscaping, revamped building exteriors, and repaved parking. Both buildings feature secured gated entry and assigned tandem parking. Two former storage areas, one at each building, were converted into modern on-site fitness rooms, an amenity rarely found in comparable vintage product. A RUBS program is in place for water, trash, and sewer.Walk to BMO Stadium, the LA Memorial Coliseum, and the Lucas Museum of Narrative Art, with quick access to the I-110, I-10, and the Metro E Line at Expo Park/USC. Positioned in one of Southern California's most supply-constrained rental markets, the property offers stable, largely renovated income today with meaningful upside as the Exposition Park district continues to transform ahead of the 2028 Olympic Games.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LARD1.5

Interior

Fireplace No

Exterior

Parking Features Assigned

Community Features Gated

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5019024001

Security Features Gated Community,Key Card Entry

Special Listing Condition Standard

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Listed by Nabil Awada Matthews Real Estate Investment Services #02046840

Nearby School & Business

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Patricia Beattie

+1(415) 286-8292

Broker License ID: 01405369

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4060 S Hoover ST Los Angeles, CA 90037

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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