Property Details

Price $1,249,000

Year Built 1925

# of Units 6

Price P/ Unit $208,167

Sq. ft. 3,122

Price p/ Sq. ft. $400

Current Cap Rate 5.44%

Proforma Cap Rate 9.54%

Lot Size 6,217 SF

Zoning LAR2

Request Offering Memorandum

  • Hidden

Hate filling out forms?

Download the OM here

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 offered at $208,000 per unit, 5.44% CAP and 12.25 GRM on current rents. With approx. 53% rental upside, compared to renovated units in the area, the property will stabilize at a 9.54% CAP and 8.09 GRM at the list price. Located just north of Adams Blvd. and La Brea Ave, 2351 Hillcrest is one mile from a walkable community of emerging cafes and restaurants breathing new life into the neighborhood. Additionally, the property is in close proximity to the Expo Rail Line and Silicon Beach tech hubs.  This charming courtyard-style bungalow complex  features (6) 1-bdrm. units, and a one-car garage that generates additional, on a 6,217 SF lot.

Like this property?

Contact Kenny Stevens about it!

Related Listings

Exterior photo of 827 N. McCadden

75% Vacant Owner-User Complex by Larchmont Village

827 N. McCadden Place
Los Angeles, CA 90038

Price $1,699,000

City Hollywood

Units 4

Drone photo fo 31671 Seacove

Laguna Beach Triplex Blocks from 1000 Steps Beach

31671 Seacove Drive
Laguna Beach, CA 92651

Price $2,397,500

City Laguna Beach

Units 3

Exterior of 8570 Holloway Drive, a mutlifamily development opportunity near the Sunset Strip

Vacant Sunset Strip Triplex on 7,708 SF R4B Lot

8570 Holloway Drive
West Hollywood, CA 90069

Price $3,500,000

City West Hollywood

Units 3