2531 Hillcrest Drive, Los Angeles, CA 90016

• 3,122 sqft

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

Listing Status:

Active

Date Added:

March 11, 2025 at 05:00AM

Listing Office:

Compass : 310-230-5478

Listing Agent:

Kenny Stevens : 310-968-7005

MLS ID:

CL25510279

Interior

• Laundry: No Hookups
• Heating: Wall Furnace

Exterior

• Parking: OtherUncovered Parking Space

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: LAR25057005017
• View: None

Financial

• Source: CRMLS

This listing courtesy of Kenny Stevens, Compass