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.
Property Details
Price:
$1,348,000
MLS #:
25485289
Status:
Active
Baths:
0
Address:
3949 Hillcrest Drive
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Jan 18, 2025
State:
CA
ZIP:
90008
Lot Size:
10,799 sqft / 0.25 acres (approx)
Year Built:
1955
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Schools
Interior
Appliances
Dishwasher, Disposal, Refrigerator
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
Assigned
Parking Spots
8.00
Stories Total
2
Financial
Tenant Pays
Electricity, Cable T V, Water, Gas
Map
Community
- Address3949 Hillcrest Drive Los Angeles CA
- AreaPHHT – Park Hills Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90008
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3949 Hillcrest Drive
Los Angeles, CA
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