9-Unit Apartment Property with
For Sale
$2,099,999
4504 S Hoover St, Los Angeles, CA 90037
Three buildings include two Spanish-style fourplexes and a detached home, with a mix of one- and two-bedroom units.
Property Size6,342 SF
Price / SF$331.13
Days on Market43
Property Features for 4504 S Hoover St
General Information
Standard status
Active
Size
6,342 SF
Property subtype
MULTI_FAMILY
Occupancy
100%
Site & Location
Neighborhood
Vermont Square
Highway Access
Yes
Units
Unit Mix
8 x one-bedroom, 1 x two-bedroom
Multifamily Units
9
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Amenities
on-site laundry room
Building Details
Building Size
6,342 SF
Year Built
1908
Buildings
3
Construction
Spanish-style
Listing Agency:
Bedrock Real Estate Group
Listed By:
SCOTT BUTLER · License #01846093
(310) 420-0130
Source:
Bedrockrealestategroup
Added: Sep 14
Changed: Oct 26
Last Checked: Oct 26 at 11:40AM
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 Bedrock Real Estate Group
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Investment Insights
Based on property information with market context.
This 9-unit apartment property comprises three buildings on a corner lot: two two-story Spanish-style fourplexes and a detached rear home. The unit mix is eight one-bedroom apartments and one two-bedroom apartment, and all units are occupied. Improvements completed since 2022 include two renovated apartments, kitchen and bath upgrades, new flooring and paint, water heater replacements, and electrical and plumbing repairs. Both fourplexes have cool roofs installed in 2026. Gas and electricity are separately metered by unit.
Four apartments participate in Section 8, with rents paid through HACLA. The property also has an on-site laundry room with owner-owned machines. The location is minutes from USC, Exposition Park, and the 110. The listing indicates a path to a 6%+ cap rate at market rents.
Four apartments participate in Section 8, with rents paid through HACLA. The property also has an on-site laundry room with owner-owned machines. The location is minutes from USC, Exposition Park, and the 110. The listing indicates a path to a 6%+ cap rate at market rents.
Key Highlights
- 9 units across three buildings on a corner lot
- Unit mix: 8 one‑bedroom apartments and 1 two‑bedroom apartment; 100% occupied
- Two two‑story Spanish‑style fourplexes plus a detached rear home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,178
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,883,560
$1.9M
Cap Rate 7%
$1,345,400
$1.3M
Cap Rate 9%
$1,046,422
$1.0M
Market Conditions
NOI Build-Up for 6,342 SF
Gross rent
$172.4K $27.19/SF
− Vacancy
−$1.2K −$0.19/SF
EGI
$171.2K $27.00/SF
− OpEx
−$77.1K −$12.15/SF
NOI
$94.2K $14.85/SF
Area
ZIP 90037
Vacancy
0.70%
Lease Rate
$27.19 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,883,560
Cap Rate 7%
$1,345,400
Cap Rate 9%
$1,046,422
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,178 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.17M – $2.90M
NOI $173,952 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
9
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 90037, CA
63,706
Population
18,709
Households
3.4
Avg Household Size
33
Median Age
9%
College-Educated
54%
High-School Grad
2.9 sq mi
ZIP Area
21,968
Density / Sq Mi
$56,417
Median Household Income
$29,857
Median Earnings
$1,438
Median Rent
$632,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three buildings include two Spanish-style fourplexes and a detached home, with a mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 4504 S Hoover St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,099,999.
What are key features of this property?
This property features: 9 units across three buildings on a corner lot; Unit mix: 8 one‑bedroom apartments and 1 two‑bedroom apartment; 100% occupied; Two two‑story Spanish‑style fourplexes plus a detached rear home
