2531 Hillcrest Dr - Apartments FOR SALE


Los Angeles, CA 90016- West Adams
$1,299,000 USD
310-940-8749
2531 Hillcrest Dr, Los Angeles, CA for Sale
$1,299,000 USD
Apartments - FOR SALE
1/8
null | 5.58% Cap Rate

2531 Hillcrest Dr
Los Angeles, CA 90016
West Adams


HIGHLIGHTS

  • Courtyard-style bungalow complex located 1 mile from a community of emerging cafes, restaurants, and boutiques along West Adams Blvd.
  • Offered at $216,500 per unit, 5.58% CAP and 11.86 GRM on current rents.
  • Offers 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).
  • Potential to achieve 10.57% CAP and 7.38 GRM based on market rents for renovated units in the area.
  • Property amenities include 1 uncovered parking space and a 1-car garage, which is currently leased for additional income.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$416 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,500

CAP RATE

5.58%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5.58% CAP & 11.86 GRM w/ 60% Upside

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,217 SF

ZONING

LAR2

APN/PARCEL ID

5057-005-017

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-940-8749

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Kenny StevensCompassMore Info
310-940-8749

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.