2531 Hillcrest Dr

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.

This home located at 2531 Hillcrest Dr is currently active and has been available on pardeeproperties.com for 223 days. This property is listed at $1,299,000. It has 6 beds and 6 bathrooms. The property was built in 1925. 2531 Hillcrest Dr is in the Mid Los Angeles community of County.

The multiple listings information is provided by The MLS™/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLS™/CLAW. All Rights Reserved. The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate and should be independently verified.