2531 Hillcrest Drive,Los Angeles, CA 90016
Los Angeles, CA 90016
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.
Details
| MLS # | 25510279 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1925 |
| Days On Site | 130 |
| Listing Provided By | Compass | Kenny Stevens |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 6 |
| SQ Feet | 3,122 |
| Garage | 1 |
| Story(s) | 1 |
| Units | 6 |
| Building(s) | 3 |
| Zoning | LAR2 |
| Acreage | 0.14 |
| Property View | None |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Refrigerator |
Exterior
| Security Features | Gated Community |
|---|
Parking
| Parking Features | Door Single, Garage, Uncovered |
|---|---|
| Garage Yes / No | Yes |
Location
| Community Features | Gated |
|---|
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90016 |
| Area | C16 Mid Los Angeles |
