2531 Hillcrest Drive
2531 Hillcrest Drive
$1,249,000
6
6
3,122
3,122
$400
Listed By Compass
Description
2531 Hillcrest Drive is a 6-unit courtyard-style bungalow complex offering a substantial value-add opportunity and an up-and-coming location undergoing a widely covered creative renaissance. 2531 Hillcrest is offered at $208,167 per unit, 5.44% current CAP, and 12.25 current GRM. With approx. 53% rental upside, the property will stabilize at a 9.54% market CAP and 8.09 market GRM. Featuring (6) 1-bdrm. units, this value-add property is located in the heart of West Adams (just north of West Adams...2531 Hillcrest Drive is a 6-unit courtyard-style bungalow complex offering a substantial value-add opportunity and an up-and-coming location undergoing a widely covered creative renaissance. 2531 Hillcrest is offered at $208,167 per unit, 5.44% current CAP, and 12.25 current GRM. With approx. 53% rental upside, the property will stabilize at a 9.54% market CAP and 8.09 market GRM. Featuring (6) 1-bdrm. units, this value-add property is located in the heart of West Adams (just north of West Adams Blvd & La Brea Ave). This rapidly developing neighborhood is home to many mixed-use and office development projects, and a community of emerging and highly-reviewed restaurants and cafes breathing new life into this in-demand neighborhood. In addition to the property's walkability to the heart of West Adams, this courtyard-style complex is close to the Expo Rail Line and Silicon Beach tech hubs. Additional property amenities include two parking spaces.
Listing Agents
Property Details for 2531 Hillcrest Drive
Zoning
LAR2
StyleBungalow
Cross StreetsWest Adams Blvd & Hillcrest Dr
Parcel Number5057005017
Total Units6.0
Living Area3122
Source Living AreaVendor Enhanced
AreaMid Los Angeles (C16)
Location
LISTING UPDATED: 02/26/2024 05:08 PM
Property Details for 2531 Hillcrest Drive
Status | Active |
---|---|
MLS # | 23-312527 |
Days on Market | 219 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1925 |
Lot Size | 0.14 AC / 6,217 SF |
County | Los Angeles County |
Location
Virtual Tour
Building Information for 2531 Hillcrest Drive
Stories1Residences-Year Built1925Building Size-Lot Size0.14 AC / 6,217 SF
Payment Calculator
$8,173 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 2531 Hillcrest Drive
Property History for 2531 Hillcrest Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2531 Hillcrest Drive
Taxable ValueLand$1,064,696Additions$214,439Total$1,279,135
Tax Record2023$16,286 ($1,357 / month)
Home Facts
Total Finished SqFt3,122 SqFtAbove Grade Finished SqFt3,122 SqFtLot Size6,217 SqFtStyleMulti-Family Res (5+ Units)Year Built1925ZoningLAR2CountyLOS ANGELESAPN5057-005-017
Schools near 2531 Hillcrest Drive
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Virginia Road Elementary School PublicK to 5 | ||
Johnnie Cochran, Jr., Middle School Public6 to 8 | ||
Susan Miller Dorsey Senior High School Public9 to 12 | ||
ISANA Nascent Academy CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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