4018 Hillcrest Drive

Los Angeles, CA 90008

$1,953,000

Sold Price
N/A

bed Beds

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shower Baths

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straighten / sqft

1948

calendar_month Built

Property Description

Welcome to this prime 16-unit apartment building located in the heart of Park Hills Heights, one of Los Angeles’ most vibrant and historically significant neighborhoods. This is a rare opportunity considering the area's low inventory and a great property to add to your portfolio with a projected 5.22% Cap Rate and a 48% upside in rental income. This property offers a unique investment opportunity in an appreciating area known for its rich cultural heritage and strong community ties. With a mix of one and two-bedroom units organized into four-unit complexes with two units on each level. The building features a brand-new roof installed in 2023, ensuring long-term durability and peace of mind for the next owner. Each tenant enjoys the convenience of a detached garage and access to on-site laundry facilities, making this property a sought-after choice for renters. The building also offers secure entry and dedicated parking, further enhancing its appeal. With the ongoing development in Park Hills Heights and the nearby Crenshaw/LAX Metro Line, the area is poised for continued growth, presenting an excellent opportunity for future rent increases. For investors looking to maximize returns, there is significant potential to boost cash flow through strategic renovations and rent adjustments. Upgrading the units and common areas in line with the neighborhood’s revitalization efforts could command higher rents, making this property an ideal addition to any investment portfolio. Centrally located within minutes of major Freeways, this ideal location provides access to major area shopping areas nearby educational opportunities, and much more.

Listing Information

Close Price $1,953,000
Close Date Tuesday, October 1st, 2024
Status Closed
MLS PV24178488
HOA $0
Type Residential Income
Subtype Mixed Use
Year Built 1948
Lot Size 21,730
Structure Size N/A
DOM 6
Courtesy Of Harcourts Hunter Mason Realty
Listing Agent Anthony Self DRE#01906720
Co-Listing Agent Courtney Self DRE#01229263

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Fireplace Information
Features None
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Anthony Self, Courtney Self, Harcourts Hunter Mason Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Oct 3rd, 2024 at 12:00 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.