2531 Hillcrest Dr Los Angeles, CA 90016

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.