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2531 Hillcrest DR Los Angeles, CA 90016
6 Beds
6 Baths
3,122 SqFt
UPDATED:
03/12/2025 01:04 AM
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
HOA Y/N No
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
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Door-Single, Garage, Uncovered
Garage Spaces 1.0
Garage Description 1.0
Community Features Gated
View Y/N No
View None
Total Parking Spaces 2
Building
Faces East
Story 1
Entry Level One
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5057005017
Security Features Gated Community
Special Listing Condition Standard
Listed by Kenny Stevens • Compass