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2824 Hillcrest Dr, Los Angeles, CA 90016
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2824 Hillcrest Dr Los Angeles, CA 90016

$1,200,000 Sold Price as of 05/01/2019
  • 8 Beds
  • 4 Baths
  • 5,548 Sq.Ft.
Sold
$1,200,000 Sold Price as of 05/01/2019 Refinance Your Mortgage
Map preview of 2824 Hillcrest Dr, Los Angeles, CA 90016

Property Overview: 2824 Hillcrest Dr Los Angeles, CA has 8 bedrooms, 4 bathrooms, 5,548 living square feet and 7,000 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 2824 Hillcrest Drive is a beautiful 4-plex in the heart of Mid City Los Angeles. Every unit in the complex is a large 2-bedroom, 1-bathroom and over 1000 square feet each. As you will see when you pull up to the property, it has a stunning Spanish style architecture, not like the common "bread and butter" properties you see on the market today. There are four large garages in the rear of the property which are currently used for storage, but could be used for parking for the tenants. Although the tenants are paying well below market rent, they have only been living in the building between 3-7 years. The asking price per square foot is only $234.32 and there is over 70% upside in the rents. Tremendous value-add opportunity. The building is fully occupied so PLEASE DO NOT DISTURB THE TENANTS!.

Listed by Chase Simonton | BRE #01766871 | Peak Commercial
Co-listed by Jason Flashman | BRE #01841976 | Keller Williams-Santa Monica
Last checked: 14 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 8

Home details

Lot Sq. Ft
7,000
HOA Dues
$0/mo
Year built
1927
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
19437636
City
Los Angeles
County
Los Angeles
Time on Site
1220 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,458
  • Total Rent: $1,458
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,420
  • Total Rent: $1,420
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,379
  • Total Rent: $1,379
  • Pro Forma/Market Rent: $2,400
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,365
  • Total Rent: $1,365
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: --
  • Net Operating Income: $36,286
  • Gross Operating Income: $67,464
  • Improvements Total: $101,809
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2824 Hillcrest Dr

Interior Features
Cooling Information
  • Has Cooling
  • See Remarks
Laundry Information
  • Has Laundry
  • See Remarks
Lot Details / Garage and Parking
Property Information
  • Total # of Units: 4
  • Parcel Number: 5050011011
Location / Neighborhood
Location Information
  • Directions: South of Adams, East of La Brea
View more facts & features

Local Los Angeles Agent

Sale History for 2824 Hillcrest Dr

Last sold for $1,200,000 on May 1st, 2019

  • May, 2019

  • May 7, 2019

    Date

    Sold

    CRMLS: 19437636

    $1,200,000

    Price

  • Mar 22, 2019

    Date

    Pending

    CRMLS: 19437636

    $1,300,000

    Price

  • Mar 5, 2019

    Date

    Active Under Contract

    CRMLS: 19437636

    $1,300,000

    Price

  • Feb 25, 2019

    Date

    Active

    CRMLS: 19437636

    $1,300,000

    Price

  • April, 2019

  • Apr 26, 2019

    Date

    Sold (Public Records)

    Public Records

    $1,200,000

    Price

Show More

Tax History for 2824 Hillcrest Dr

Assessed Value (2020): $1,224,000
Year Land Value Improved Value Assessed Value
2020 $918,000 $306,000 $1,224,000

Home Value Compared to the Market

This property vs the competition

2824 Hillcrest Dr sold on May 1, 2019 for 9.24% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $234.32 per/sqft which puts the price per square foot 68.96% lower than the current median sale per square foot for the city of Los Angeles.

About 2824 Hillcrest Dr

Detailed summary of property

2824 Hillcrest Dr is a multi family that recently sold in Los Angeles, CA 90016. This multi family property offered 8 bedrooms, 4 bathrooms, roughly 5,548 living square feet, and sits on an approximately 7,000 square foot lot. 2824 Hillcrest Dr was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $1,200,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 9.24% higher than the current median priced home. Local homes that are currently for sale include 4516 St Charles Pl, 2701 S Cloverdale Ave and 4006 W 21st St. While the average home in Los Angeles, CA is selling in 94 days, 2824 Hillcrest Dr has a days on market of 8 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 2824 Hillcrest Dr Los Angeles, CA 90016 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2824 Hillcrest Dr

Public county record property details
Beds
8
Baths
4
Year built
1928
Sq. Ft.
5,548
Lot Size
7,000
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
473
APN
5050-011-011

The source for these homes facts are from public records.

90016 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,060,000
Median List Price/Sq.Ft.
$740
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
76
Median Sale to List Price %
98.44%
Avg Days on Market
30
Loan Type
Conventional (21.05%), FHA (0%), VA (0%), Cash (10.53%), Other (10.53%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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