1247 N Hoover Street,Los Angeles, CA 90029
Los Angeles, CA 90029
Description
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 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.
Details
| MLS # | 26994139 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1905 |
| Days On Site | 27 |
| Listing Provided By | Nourmand & Associates-HW | Levi Freeman |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 1,517 |
| Story(s) | 1 |
| Zoning | LAR2 |
| Acreage | 0.12 |
| Property View | None |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Furnished | Unfurnished |
| Appliances | Dishwasher, Dryer, Washer |
| Fireplace Yes / No | Yes |
Parking
| Parking Features | Shared Driveway |
|---|
Utilities
| Sewer | Other |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90029 |
| Area | C21 Silver Lake Echo Park |
| Listing VS Median (in 90029) | |
Price: $1,649,000 low | high Med: $1,299,997 sqft: 1,517 low | high Med: 2,885 $ / sqft: $1,087 low | high Med: $569 On site: 27 low | high Med: 72 | |
Market Activity 90029
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90029 |
| Area | C21 Silver Lake Echo Park |
| Listing VS Median (in 90029) | |
Price: $1,649,000 low | high Med: $1,299,997 sqft: 1,517 low | high Med: 2,885 $ / sqft: $1,087 low | high Med: $569 On site: 27 low | high Med: 72 | |
