6.55% In Place Cap Rate | Covered Land Play 5329 S Hoover St

Floyd Shaheen of Marcus & Millichap and Vaun Lennon and Robert Clifford of Lee & Associates West LA have been selected to exclusively market for sale 5329 S Hoover St Los Angeles, CA 90037. This corner lot presents an exceptional investment opportunity in one of Los Angeles’ rapidly evolving neighborhoods. Currently operating as an auto repair shop, this property boasts a lot size of 4,560 square feet and is zoned C2-1VL-CPIO, allowing for the construction of up to 11 units by right and 21 units with the TOC Density Bonus. With a current income generating a 6.55% cap rate, this property is ideal for investors seeking immediate cash flow or for an owner/user interested in leveraging an SBA loan.
Benefit from proximity to USC, a major educational hub, and the recently completed Lucas Museum, which enhances the cultural landscape of the area. Strategically positioned near major developments along the Crenshaw Corridor, this site is poised for significant growth. Additionally, the BMO Stadium, home to the LAFC soccer team, is within easy reach, further enhancing the area’s appeal for potential residents. The ongoing development projects in South LA signify a robust community investment, making this location a
strategic choice for any developer. With the area’s ongoing revitalization, this property is an ideal canvas for new residential or mixed-use projects, catering to the increasing demand for housing.
Accessibility is a hallmark of this location, with high traffic counts along S Hoover St and the extension of public transportation options,
including the Purple Line and Expo Line. This connectivity will attract future tenants and buyers, making it an ideal spot for residential or
mixed-use development. Seize the opportunity to be part of the exciting transformation of South Los Angeles. This property not only promises a strong development potential but also offers a gateway to a vibrant community brimming with possibilities.