Property Details

Price $1,295,000

Year Built 1925

# of Units 6

Price P/ Unit $215,833

Sq. ft. 3,122

Price p/ Sq. ft. $415

Current Cap Rate 5.02%

Proforma Cap Rate 9.25%

Lot Size 6,217 SF

Zoning LAR2

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About the Property

2531 Hillcrest Drive is a charming 6-unit courtyard-style bungalow complex located in the heart of West Adams. This value-add investment opportunity is located just north of West Adams Blvd, and is one mile away from the heart of a community of emerging and highly-reviewed cafes and restaurants. Additionally, the property is in close proximity to the Expo Rail Line and Silicon Beach tech hubs. Offering approx. 58% in rental upside, 2531 Hillcrest stabilizes at 9.25% CAP and 8.35 GRM at the listed price. This charming complex features (6) 1-bdrm. units, a laundry room, uncovered parking space, and a one-car garage.

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