Property Detail

Description

6500 S Hoover Street offers a rare opportunity for a neighborhood market operator to acquire a retail location while offsetting a significant portion of the ownership cost with existing residential and storage income. The month-to-month retail tenancy provides flexibility to occupy the storefront shortly after closing or continue collecting income while planning a transition. The property consists of a retail storefront, a detached 3-bedroom, 2-bath residence, and two storage areas situated on a 6,569-square-foot LAC2-zoned corner parcel. The property is legally recognized as a three-unit asset and is improved with two separate buildings, allowing the residential component to operate independently from the commercial space. The property currently generates income from the retail space, residence, and one storage area, while a second, fully remodeled storage space remains vacant, providing an immediate lease-up opportunity. During marketing preparation, this additional storage area was identified as a separately utilized rental space. While not separately identified as a legal unit, it has historically functioned as an independent storage rental. Whether acquired by an owner-user or an investor, the combination of immediate cash flow, retail control, and additional lease-up potential creates multiple execution paths without relying on speculative redevelopment or extensive renovation.