Multi-Suite Retail
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For Sale
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2319 S Hoover St, Los Angeles, CA 90007
Six retail suites include a combination of occupied and vacant spaces within a commercial center.
Property Size6,933 SF
Price / SF$375.02
Days on Market6
Property Features for 2319 S Hoover St
General Information
Standard status
Active
Size
6,933 SF
Total Parking Spaces
6
Property subtype
Retail
Zoning
C2-1VL-HPOZ-CPIO
Occupancy
66%
Investment Type
Owner/User
Building Details
Year Built
1968
Buildings
1
Units
6
Tenancy
Multi
Listing Agency:
Major Properties
Listed By:
Daniel Moussazadeh · License #CA 02058572
(310) 999-9437
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 8:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Major Properties
Investment Insights
Based on property information with market context.
This retail center contains six separate suites totaling 6,933 SF. Suite sizes range from 920 SF to 1,895 SF, with four suites currently occupied and two suites vacant. The property dates to 1968 and is designated C2-1VL-HPOZ-CPIO.
The suite layout includes spaces of 1,206 SF, 978 SF, 1,014 SF, two 920 SF suites, and one 1,895 SF suite. Its multi-suite configuration supports continued retail occupancy or a reworking of the existing space, subject to applicable zoning and approvals.
The suite layout includes spaces of 1,206 SF, 978 SF, 1,014 SF, two 920 SF suites, and one 1,895 SF suite. Its multi-suite configuration supports continued retail occupancy or a reworking of the existing space, subject to applicable zoning and approvals.
Key Highlights
- 6,933 SF retail center built in 1968
- Six suites ranging from 920 SF to 1,895 SF
- Four suites occupied; two 920 SF suites are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$160,895
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,217,900
$3.2M
Cap Rate 7%
$2,298,500
$2.3M
Cap Rate 9%
$1,787,722
$1.8M
Market Conditions
NOI Build-Up for 6,933 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$256.2K $36.96/SF
− Vacancy
−$26.4K −$3.81/SF
EGI
$229.9K $33.15/SF
− OpEx
−$69.0K −$9.95/SF
NOI
$160.9K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,217,900
Cap Rate 7%
$2,298,500
Cap Rate 9%
$1,787,722
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.68M
NOI $160,895 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$140.46M
$122.90M – $163.87M
NOI $9,832,089 @ 7.0% cap · market cap 378.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,616
Businesses Nearby
Explore this area
Business Placement
Demographics for 90007, CA
40,944
Population
14,153
Households
2.9
Avg Household Size
28
Median Age
29%
College-Educated
63%
High-School Grad
2.4 sq mi
ZIP Area
17,060
Density / Sq Mi
$36,032
Median Household Income
$21,176
Median Earnings
$1,480
Median Rent
$852,900
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Six retail suites include a combination of occupied and vacant spaces within a commercial center.
Where is this retail space located?
The property is located at 2319 S Hoover St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 6,933 SF retail center built in 1968; Six suites ranging from 920 SF to 1,895 SF; Four suites occupied; two 920 SF suites are vacant
