2531 HILLCREST Drive, Los Angeles, CA 90016
Property · 2 recorded sales since 2016
Sold March 2019
Listing Agent: Andrew Watkins (DRE #01478668) · Listing Office: Pacific Playa Realty · Contact: 310-256-3038 · Bought with: Gabriela Manakova · Innovative Property Strategies · MLS #18415450 · Source: CRMLS
About this property
Seven Units in West Adams. Walk to the Expo Line and new Crenshaw Line. Gross Scheduled Income: $85,528. Total Expense: $23,690. Annual Net Income: $61,838. GRM: 15.08. Cap Rate: 4.79%. Unit mix is six 1BD/1BA and one bachelor. Three units completely remodeled with hardwood flooring, new bathroom and new kitchens. Updated plumbing, electrical and roof throughout. New wood fence on side and front. Newly painted. Also has two 1-car garages, both being rented. Great opportunity to own multifamily complex. Low monthly expenses and easy tenants. This area is very renter friendly with walking distance to Expo Line and Crenshaw Line. This area is up-and-coming. Very safe. Easy commute to Hollywood, downtown LA or Santa Monica. Great for 1031 exchange. Tremendous upside as Adams Blvd. continues to develop with new restaurants, boutique shops, and even hipster motels. This won't last!
Listing description from the March 2019 sale, as reported to CRMLS.
Sale history
