$1,249,000
2531 Hillcrest Drive, Los Angeles 90016
1
Bed
1
Bath
3,122
Square feet
6,217
Lot Size
6
# Of Units
Listing Agent
Kenny Stevens - Compass2531 Hillcrest Drive is a 6-unit courtyard-style bungalow complex offering a substantial value-add opportunity and an up-and-coming location undergoing a widely covered creative renaissance. 2531 Hillcrest is offered at $208,167 per unit, 5.44% current CAP, and 12.25 current GRM. With approx. 53% rental upside, the property will stabilize at a 9.54% market CAP and 8.09 market GRM. Featuring (6) 1-bdrm. units, this value-add property is located in the heart of West Adams (just north of West Adams Blvd & La Brea Ave). This rapidly developing neighborhood is home to many mixed-use and office development projects, and a community of emerging and highly-reviewed restaurants and cafes breathing new life into this in-demand neighborhood. In addition to the property's walkability to the heart of West Adams, this courtyard-style complex is close to the Expo Rail Line and Silicon Beach tech hubs. Additional property amenities include two parking spaces.
Facts & Features
| MLS® # | 23312527 |
|---|---|
| Price | $1,249,000 |
| Bedrooms | 1 |
| Bathrooms | 1.00 |
| Square Footage | 3,122 |
| Lot Size | 6,217 |
| Year Built | 1925 |
| Type | Residential Income |
| Style | Bungalow |
| Status | Active |
| # Of Units | 6 |
Community Information
| Address | 2531 Hillcrest Drive |
|---|---|
| Area | C16 - Mid Los Angeles |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90016 |
Amenities
| Parking Spaces | 2 |
|---|---|
| Parking | Door-Single, Garage, Uncovered |
| # of Garages | 1 |
| Garages | Door-Single, Garage, Uncovered |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Appliances | Refrigerator |
|---|---|
| Heating | Wall Furnace |
| Has Basement | No |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Additional Information
| Date Listed | September 18th, 2023 |
|---|---|
| Days on Market | 219 |
| Zoning | LAR2 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Kenny Stevens |
|---|---|
| Office | Compass |