Property listed by Nourmand & Associates-HW, Levi Freeman 323-462-6262
$1,649,000
A compelling opportunity in the heart of Silver Lake, 1247 N Hoover pairs the charm of a beautifully updated residence with the immediate benefit of substantial in-place income. Comprised of a 3-bedroom, 2-bath main house and a separate 1-bedroom, 1-bath ADU, the property is currently generating $9,000 per month in… Read More combined rental income, offering an attractive option for investors, 1031 exchange buyers, or those considering future owner occupancy. The main residence is warm and inviting, with beautiful hardwood and tile floors and a gracious front porch that sets the tone from the moment you arrive. Off the kitchen, a second porch opens to a redwood deck and private backyard, creating an ideal setting for morning coffee, outdoor dining and entertaining. Thoughtful improvements include a brace-and-bolt foundation retrofit, updated electrical, copper plumbing, brand new central HVAC and a tankless water heater. The beautifully finished ADU offers its own private 1-bedroom, 1-bath residence complete with HVAC, washer/dryer and dishwasher. Currently leased for $2,700 per month, it complements the main residence, which is leased for $6,300 per month, for combined gross income of $108,000 annually. Both current leases extend through January 2027, creating a unique opportunity to acquire a stabilized income-producing property today with flexibility for its next chapter thereafter. And then there is the location: moments from Intelligentsia, Tartine, Erewhon, Kismet, Sweetgreen, neighborhood restaurants, cafs, boutiques and vintage shopping, placing some of the very best of Silver Lake just outside your door. With Los Angeles preparing to welcome the world for the 2028 Olympic Games, 1247 N Hoover presents a rare combination of character, income and long-term versatility in one of the city's most sought-after neighborhoods. Property is tenant-occupied. To respect the privacy of the occupants, interior showings will be accommodated for well-qualified buyers upon receipt of an offer. Please do not disturb tenants. Read Less
Listing Snapshot
Days Online
3
Last Updated
Beds
4
3/4 Baths
3
Square Ft.
1,517
Lot Size
0.12 Acres
Year Built
1905
MLS Number
26994201
Additional Details
Appliances & Equipment
Dishwasher, Dryer, Washer
Building
Built in 1905, Living area: 1517.0, 2 buildings, Levels: One
Cooling
CentralAir
Expenses
Gardener: $1,920, Insurance: $4,125
Fireplaces
Decorative
Floors
Wood
Heating
Central
Income
Gross Income: $108,000, Net Operating Income: $85,583
Lot
0.1189 acres
Parking
2 open parking spaces, 3 total parking spaces, SharedDriveway
Pool
None
Taxes
Parcel Number: 5542023024, Zoning: LAR2
Utilities
Water Source: Public
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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