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$ 1,150,000
Est. payment /mo
Active
2531 Hillcrest Drive Los Angeles, CA 90016
3,122 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,122 sqft
Price per Sqft $368
MLS Listing ID CL25510279
HOA Y/N No
Year Built 1925
Lot Size 6,219 Sqft
Acres 0.14
Property Sub-Type Other
Property Description
***$150,000 Reduction - Offered @ 6.24% current CAP, 10.24 GRM, and $191,667 per unit*** Set in the heart of West Adams, 2531 Hillcrest sits at the center of one of LA's most dynamic cultural transformations. The surrounding neighborhood has evolved into a hub for creative professionals, entrepreneurs, and young families drawn to its historic architecture, emerging food scene, and proximity to both the Expo Rail Line and Silicon Beach's major tech employers. High-profile mixed-use developments and innovative office spaces continue to reshape the area, reinforcing strong and growing tenant demand. Built in 1925, the property is a classic courtyard-style bungalow complex featuring (6) 1-bdrm units that average approx. 520 SF each. The layout offers both charm and functionality, with units arranged around a central courtyard on a spacious 6,217 SF lot zoned LAR2. The property includes an uncovered parking space and a 1-car garage, currently leased for additional income. For investors, 2531 Hillcrest presents clear upside. Current rents are positioned well below market, offering approx. 38% rental upside potential based on comparable renovated units in the area. With a projected 9.81% market CAP and 7.45 GRM, the property combines immediate cash flow with strong appreciation potentia
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Laundry No Hookups
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5057005017
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Listed by Kenny Stevens • Compass