Active
3949 Hillcrest Dr Unit: 1
Los Angeles CA, 90008
$1,348,000
$186.29 per sqft
Active
12 Beds
8 Baths
7,236 sqft
Multi-family
Built in 1955
Presenting an exceptional 8-unit multi-family property located in the desirable Baldwin Village neighborhood of Los Angeles. This well-maintained building sits on a spacious, verdant 10,799 sq ft lot and features 7,236 sq ft of rentable space. The property offers a well-balanced unit mix of 4, two-bedroom units and 4, one-bedroom units, each contributing to consistent cash flow. This is a rare probate sale with full seller authority to sell, meaning no court confirmation or overbid hearing is required. The process is streamlined for a fast and efficient transaction, making it an attractive opportunity for both seasoned investors and first-time buyers. All units are currently rented, generating a strong gross annual income of $116,304, plus an additional apx. $200 per year from the on-site laundry facility. With current rents significantly below market value (and priced accordingly), this investment has tremendous upside income potential with projected rents of $2,300/month for the 2-bedroom units and $1,900/month for the 1-bedroom units, boosting overall returns. The gated property boasts lovely landscaping, including fruit and specimen trees on the oversized lot, offering a serene and secure environment for tenants and 6 gated parking garage spaces. The property is ideally situated near key Los Angeles neighborhoods including Inglewood, Leimert Park, and Culver City. Residents enjoy easy access to the area's diverse dining, shopping, and entertainment options. Explore local favorites like the Baldwin Hills Crenshaw Plaza, with a wide variety of shops, eateries, and entertainment options, or enjoy the nearby restaurants and cafes in Leimert Park. For those commuting or seeking easy transit access, the property is conveniently located near the Crenshaw and Expo Metro lines, providing quick connections to Downtown LA, Culver City, and other major areas. Priced to attract multiple offers, this property presents an excellent opportunity for immediate cash flow and future appreciation, offering a competitive cap rate based on current net income (NOI). The Estate is motivated to sell quickly, and with no court delays or overbid hearings, this rare opportunity will not last long. Showings will only be arranged subject to an acceptable offer. Contact us today for more details! More photos to come, soon! UPDATE: Offers are due on or before Friday, January 24 2025 at 8 PM.
25-485289
MLSⓇ ID
January 18, 2025
Listed
January 30, 2025
Updated
Map
3949 Hillcrest Dr Unit: 1
Los Angeles CA, 90008
Interior Features
Total Stories
2
Bedrooms
12
Total Bathrooms
8
Appliances
Cable, Built-Ins, Garbage Disposal, Elevator, Refrigerator, Hood Fan, Freezer, Dishwasher
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.25 Acres
Other Property Details
Area Name
Park Hills Heights
Days on Market
11
Garage
No
Parking
Detached, Assigned
Parking Total
8
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listed by Mickey Kessler with Coldwell Banker Realty
Listing Contact: 310-367-2322
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Eve Capital shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2025 Combined L.A./Westside MLS. All rights reserved.
Data last updated 1/30/2025