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4018 Hillcrest Drive
Los Angeles, CA 90008
Sold
4018 Hillcrest Drive
Los Angeles, CA 90008
Sold
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.
PROPERTY INFORMATION
| MLS # | PV24178488 | Lot Size | 21,730 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Commercial/Residential |
| Price | $ 2,300,000
Price Per SqFt: $ 149 |
DOM | 281 Days |
| Address | 4018 Hillcrest Drive | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 15,406 Sq. Ft. |
| Postal Code | 90008 | Garage | 16 |
| County | Los Angeles | Year Built | 1948 |
| Bed / Bath | 3 / 0 | Parking | 16 |
| Built In | 1948 | Status | Closed |
| Sold Date | 2024-10-01 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Heating | Yes |
| Heating Information | Floor Furnace |
| Has Cooling | No |
| Cooling Information | None |
| EntryLocation | 1 |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,453
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/01/2024 | Sold | $1,953,000 |
| 08/28/2024 | Listed | $2,300,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Anthony Self, Harcourts Hunter Mason Realty. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
