2531 Hillcrest DR new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90016
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,122 sqft
Price per Sqft $416
MLS Listing ID 25510279
Bedrooms 6
Year Built 1925
Lot Size 6,220 Sqft
Property Description
2531 Hillcrest presents an exceptional value-add opportunity in the heart of West Adams, one of LA's most rapidly evolving neighborhoods. This 6-unit courtyard-style bungalow complex offers investors the potential for 41% rental upside and a projected 8.95% market CAP, or up to 61% rental upside with the addition of an ADU (buyer to verify). Converting the 1-car garage into an ADU could push returns even further, stabilizing the property at a 10.57% CAP and 7.38 GRM based on market rents. Located just north of West Adams Blvd & La Brea Ave, this property benefits from the area's creative and cultural resurgence. West Adams has quickly become a hub for high-profile mixed-use developments, innovative office spaces, and a booming food scene, attracting young professionals and entrepreneurs looking for a dynamic urban lifestyle. The property also enjoys close proximity to the Expo Rail Line and major Silicon Beach tech hubs, ensuring long-term tenant demand. Additional amenities include one uncovered parking space and a 1-car garage, which is currently leased for additional income. Whether you're looking for cash flow, appreciation, or future development potential, 2531 Hillcrest is a strategic investment in one of LA's most promising neighborhoods.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Heating Wall Furnace
Exterior
Parking Features Door-Single,Garage,Uncovered
Garage Spaces 1.0
Garage Description 1.0
Community Features Gated
View Y/N No
View None
Building
Story 1
New Construction No
Others
Special Listing Condition Standard