Multifamily

2617 Hillcrest Dr

2617 Hillcrest Dr, Los Angeles, CA 90016

Listing Price: $1,300,000

Cap Rate
5.60%
Number of Units
4
GRM
12.97
Occupancy
97.0%
Price/Unit
$325,000
Price/Gross SF
$494.48
Gross SF
2,629

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 2617 Hillcrest Drive in Los Angeles, California. The subject property is located in a good West Adams location, north of West Jefferson Boulevard and west of Crenshaw Boulevard.

Built in 1923, this offering contains a great unit mix of one (1) studio/one-bathroom unit, one (1) one-bedroom/one-bathroom unit, one (1) two-bedroom/two-bathroom unit, and one (1) two-bedroom/two-bathroom bungalow unit. These units were recently remodeled with new hardwood floors, tile, cabinets, fresh paint, and updated bathrooms and kitchens. Each unit comes fully equipped with a refrigerator, gas range, garbage disposal, wall heaters, wall A/C units, energy efficient fixtures, and separate water heaters. Two (2) of the units have washer/dryers installed, the other two (2) units have washer/dryer hook ups ready for installation. The property has two (2) detached buildings renovated with new roofs, insulation in attics, new energy efficient double paned windows, new electrical, mostly new gas lines, new seismic shut off valves on gas meters, bolted foundations, security cameras, and canned lights. Each unit is separately meters for gas and electric while the owner is billed separately for the outdoor lights. The property features three (3) one-car garages and one(1) outdoor tandem parking space that fits two (2) cars, with the possibility of an additional space between the front building and garage. The closest commercial corridor is West Adams Boulevard, located one (1) block north of the subject property. Tenants can walk here to visit The Cork Bar and Grill, Collins Fish Market, Tokyo Aquarium Fish Store, Sweet Es Bake Shop, Lotties Skate Shop, and Gladys Jean Wesson Park.

Situated in a good West Adams location, this offering presents an excellent opportunity for any investor to capitalize on strong in-place cash flow and stabilized income.

Investment Highlights

  • Separately Metered for Gas & Electric
  • Full On-Site Parking
  • Good West Adams Location
  • Strong In-Place Cash Flow & Stabilized Income
  • Great Unit Mix - Four (4) Units Total
  • Recently Remodeled Units with Washer/Dryer Hook-Ups in Each Unit

Exclusively Listed By

Listing Price: $1,300,000

Cap Rate
5.60%
Number of Units
4
GRM
12.97
Occupancy
97.0%
Price/Unit
$325,000
Price/Gross SF
$494.48
Gross SF
2,629

Investment Highlights

  • Separately Metered for Gas & Electric
  • Full On-Site Parking
  • Good West Adams Location
  • Strong In-Place Cash Flow & Stabilized Income
  • Great Unit Mix - Four (4) Units Total
  • Recently Remodeled Units with Washer/Dryer Hook-Ups in Each Unit

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 2617 Hillcrest Drive in Los Angeles, California. The subject property is located in a good West Adams location, north of West Jefferson Boulevard and west of Crenshaw Boulevard.

Built in 1923, this offering contains a great unit mix of one (1) studio/one-bathroom unit, one (1) one-bedroom/one-bathroom unit, one (1) two-bedroom/two-bathroom unit, and one (1) two-bedroom/two-bathroom bungalow unit. These units were recently remodeled with new hardwood floors, tile, cabinets, fresh paint, and updated bathrooms and kitchens. Each unit comes fully equipped with a refrigerator, gas range, garbage disposal, wall heaters, wall A/C units, energy efficient fixtures, and separate water heaters. Two (2) of the units have washer/dryers installed, the other two (2) units have washer/dryer hook ups ready for installation. The property has two (2) detached buildings renovated with new roofs, insulation in attics, new energy efficient double paned windows, new electrical, mostly new gas lines, new seismic shut off valves on gas meters, bolted foundations, security cameras, and canned lights. Each unit is separately meters for gas and electric while the owner is billed separately for the outdoor lights. The property features three (3) one-car garages and one(1) outdoor tandem parking space that fits two (2) cars, with the possibility of an additional space between the front building and garage. The closest commercial corridor is West Adams Boulevard, located one (1) block north of the subject property. Tenants can walk here to visit The Cork Bar and Grill, Collins Fish Market, Tokyo Aquarium Fish Store, Sweet Es Bake Shop, Lotties Skate Shop, and Gladys Jean Wesson Park.

Situated in a good West Adams location, this offering presents an excellent opportunity for any investor to capitalize on strong in-place cash flow and stabilized income.

Exclusively Listed By

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