2531 Hillcrest Dr Los Angeles, CA 90016
West Adams NeighborhoodEstimated payment $8,461/month
Total Views
4,140
6
Beds
6
Baths
3,122
Sq Ft
$416
Price per Sq Ft
Highlights
- Built-In Features
- Gated Home
- 1-Story Property
- Bungalow
- East Facing Home
- 5-minute walk to Gladys Jean Wesson Park
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,593
Year Built
- Built in 1925
Lot Details
- 6,219 Sq Ft Lot
- East Facing Home
- Gated Home
Parking
- 1 Open Parking Space
- 1 Car Garage
Home Design
- Bungalow
Interior Spaces
- 3,122 Sq Ft Home
- 1-Story Property
- Built-In Features
Kitchen
- Oven or Range
- Freezer
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Utilities
- Window Unit Cooling System
- Heating System Mounted To A Wall or Window
Listing and Financial Details
- Assessor Parcel Number 5057-005-017
Community Details
Overview
- 3 Buildings
- 6 Units
Building Details
- Rent Control
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $16,593 | $1,330,809 | $1,107,708 | $223,101 |
| 2024 | $16,593 | $1,304,716 | $1,085,989 | $218,727 |
| 2023 | $16,286 | $1,279,135 | $1,064,696 | $214,439 |
| 2022 | $15,558 | $1,254,055 | $1,043,820 | $210,235 |
| 2021 | $15,364 | $1,229,466 | $1,023,353 | $206,113 |
| 2019 | $2,909 | $949,780 | $711,009 | $238,771 |
| 2018 | $11,957 | $931,158 | $697,068 | $234,090 |
| 2016 | $7,923 | $603,716 | $448,386 | $155,330 |
| 2015 | $7,816 | $594,648 | $441,651 | $152,997 |
| 2014 | $8,593 | $641,000 | $557,395 | $83,605 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/11/2025 03/11/25 | For Sale | $1,299,000 | +8.9% | $416 / Sq Ft |
| 03/21/2019 03/21/19 | Sold | $1,193,000 | -7.5% | $382 / Sq Ft |
| 01/02/2019 01/02/19 | Pending | -- | -- | -- |
| 12/10/2018 12/10/18 | For Sale | $1,290,000 | +44.1% | $413 / Sq Ft |
| 04/15/2016 04/15/16 | Sold | $895,000 | +9.3% | $287 / Sq Ft |
| 02/13/2016 02/13/16 | Pending | -- | -- | -- |
| 11/07/2015 11/07/15 | For Sale | $819,000 | -- | $262 / Sq Ft |
Source: The MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,193,000 | Lawyers Title | |
| Interfamily Deed Transfer | -- | None Available | |
| Grant Deed | $895,000 | Orange Coast Title Co Socal | |
| Grant Deed | $583,000 | Orange Coast Title Company | |
| Grant Deed | $575,000 | Commonwealth Title | |
| Grant Deed | -- | Commonwealth Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title Ins | |
| Grant Deed | $290,000 | First American Title Co | |
| Grant Deed | $105,000 | First American Title Co | |
| Trustee Deed | $100,275 | Chicago Title Co | |
| Gift Deed | -- | -- | |
| Grant Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $681,000 | Credit Line Revolving | |
| Closed | $67,000 | Stand Alone Second | |
| Previous Owner | $704,000 | Construction | |
| Previous Owner | $364,999 | Commercial | |
| Previous Owner | $364,999 | Commercial | |
| Previous Owner | $175,000 | Commercial | |
| Previous Owner | $152,664 | Seller Take Back | |
| Previous Owner | $36,842 | Commercial | |
| Previous Owner | $35,000 | Credit Line Revolving | |
| Previous Owner | $259,101 | FHA | |
| Previous Owner | $84,000 | Commercial |
Source: Public Records
Similar Homes in the area
Source: The MLS
MLS Number: 25510279
APN: 5057-005-017
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© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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