Value-Add Retail Within Close Proximity to USC
NWC Hoover St. & 24th St.
Marketing description
Colliers International is pleased to present for sale 2323 S. Hoover St in Los Angeles. Retained by the seller as exclusive advisors, Colliers offers a rare opportunity to acquire a value-add retail center in the dynamic University Park / West Adams submarket. Strategically located along the Hoover Street corridor just blocks from the University of Southern California, the property benefits from strong daily pedestrian and vehicle traffic and nearby cultural destinations including Exposition Park and the Los Angeles Memorial Coliseum. The building recently underwent a $500,000 renovation, including a new roof, storefront, plumbing, electrical, and upgraded HVAC systems, and features high ceilings and large display windows ideal for retail, service, and food oriented uses.
This property presents investors with a chance to capitalize on proximity to a major university, walkable amenities, and dense housing developments, while owner-users can occupy a portion of the building and leverage SBA financing while collecting income from adjacent units.
Investment highlights
- Recently Renovated Retail Asset with significant capital improvements to the building.
- Strong traffic counts on Hoover St. (over 44,000 CPD).
- Below-market rents with upside potential.
- Close Proximity to the University of Southern California (USC).
- Dense infill location with 60,000 residents within 1 mile.
- 50% of the building can be made available for SBA Financing.
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