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 (click here for more info). 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.
5.58% CAP & 11.86 GRM w/ 60% Upside in West Adams
2531 Hillcrest Drive, West Adams
Property Details
Price $1,299,000
Year Built 1925
# of Units 6
Price P/ Unit $216,500
Sq. ft. 3,122
Price p/ Sq. ft. $416
Current Cap Rate 5.58%
Proforma Cap Rate 10.57%
Lot Size 6,217 SF
Zoning LAR2
Request Offering Memorandum
Hate filling out forms?