171 S Hoover, Los Angeles, California 90004

$3,495,000

Property Type

Residential Income

Building Size

6,988 sqft

City

Los Angeles

Status

Active

171 S Hoover St is a 2025-built, NON-RENT-CONTROLLED luxury 6-unit investment opportunity located between Silver Lake, Echo Park, Koreatown and Downtown Los Angeles. The property is 100% leased at market rents and delivers a strong 5.73% real cap rate with $251,760 in annual gross potential income, offering an investor immediate, stabilized cash flow from day one. Spanning nearly 7,200 square feet, Hoover features an exceptional oversized unit mix with three large 4-bedroom units, one 3-bedroom unit and two spacious 2-bedroom units. The residences boast tenant-friendly floorplans that live more like private homes than traditional apartments. Each unit offers high-end modern finishes including large kitchen islands, floor-to-ceiling windows, walk-in closets, central HVAC, in-unit washers and dryers, and expansive private balconies. The location provides tenants with convenient access to major entertainment, healthcare and employment centers, including Netflix, Paramount Studios, Kaiser Permanente Los Angeles Medical Center and Sunset Gower Studios. Centrally positioned near Hollywood, Koreatown, Los Feliz and Silver Lake, providing residents with easy access to some of Los Angeles’s best shopping, dining, nightlife and entertainment. With newer construction, no rent control, fully stabilized market rents, oversized units, and strong day-one income, 171 S Hoover offers a rare opportunity to acquire a turnkey multifamily asset in one of LA’s most active rental markets.