Deal numbers
- Est. cap rate
- 5.0%
- Assumed rent, all units
- $7,960/mo
- Units
- 4
- Price per unit
- $237,500
- Est. annual NOI
- $47,760
- Expense assumption
- 50%
Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.
Run your own numbers
Adjust the assumptions to see cash flow and cash on cash return.
- Effective gross income
- $90,744
- Operating expenses
- $45,372
- Net operating income
- $45,372
- Annual debt service
- $56,883
- Annual cash flow
- -$11,511
- Cash on cash return
- -4.8%
- Down payment
- $237,500
Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.
Property details
- Type
- Quadruplex
- Bedrooms
- 4
- Building size
- 4,148 sqft
- Lot size
- 3,208 sqft
- Year built
- 1915
- Stories
- 2
- Garage spaces
- 0
- Pool
- None
- Status
- Active
- Days on market
- 11
- MLS #
- 246570325
About this property
Welcome to 972 Hoover St, a well-positioned 4-unit apartment property located in the Westlake neighborhood of Los Angeles. Originally built in 1915, this approximately 4,148-square-foot building features a desirable unit mix of two 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units. The property offers gated access and tandem parking spaces along the side of the building. With a convenient Los Angeles location and a practical unit configuration, this property presents an excellent opportunity for investors looking to own a multifamily asset in an established neighborhood. This property qualifies for the The Welcome Home Grant for $20,000 with No Income Restrictions and No PMI.
Location
972 S Hoover
Los Angeles, Los Angeles, CA, 90006