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$ 1,299,000
Est. payment | /mo
6 Beds
6 Baths
3,122 SqFt
$ 1,299,000
Est. payment | /mo
6 Beds
6 Baths
3,122 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,122 sqft
Price per Sqft $416
MLS Listing ID 25510279
Bedrooms 6
HOA Y/N No
Year Built 1925
Lot Size 6,220 Sqft
Property Description
Set in the heart of West Adams, 2531 Hillcrest sits at the center of one of LA's most dynamic cultural transformations. The surrounding neighborhood has evolved into a hub for creative professionals, entrepreneurs, and young families drawn to its historic architecture, emerging food scene, and proximity to both the Expo Rail Line and Silicon Beach's major tech employers. High-profile mixed-use developments and innovative office spaces continue to reshape the area, reinforcing strong and growing tenant demand. Built in 1925, the property is a classic courtyard-style bungalow complex featuring (6) 1-bdrm units that average approx. 520 SF each. The layout offers both charm and functionality, with units arranged around a central courtyard on a spacious 6,217 SF lot zoned LAR2. The property includes an uncovered parking space and a 1-car garage, currently leased for additional income. For investors, 2531 Hillcrest presents clear upside. Current rents are positioned well below market, offering approx. 36% rental upside potential based on comparable renovated units in the area. With a projected 8.92% market CAP and 8.41 GRM, the property combines immediate cash flow with strong appreciation potential in a neighborhood that continues to attract capital and attention. Located just north of West Adams Blvd & La Brea Ave, 2531 Hillcrest offers a strategic entry point into one of LA's most promising neighborhoods, whether you're seeking value-add returns, long-term growth, or future development opportunity.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Laundry None
Exterior
Parking Features Door-Single, Garage, Uncovered
Garage Spaces 1.0
Garage Description 1.0
Community Features Gated
View Y/N No
View None
Total Parking Spaces 2
Building
Faces East
Story 1
Entry Level One
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5057005017
Security Features Gated Community
Special Listing Condition Standard
Listed by Kenny Stevens Compass
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