2839 Hillcrest Drive, Los Angeles, California 90016, Los Angeles, 90016 - 0 bed, 0 bath
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2839 Hillcrest Drive
Los Angeles, California 90016
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
3,462Sq Ft
6,502Lot Size
Property Price
LIST PRICE$1,295,000
EST. MARKET VALUE
$1,425,071
9% BelowMARKET VALUE
SUMMARY
This turnkey triplex represents a Strong Value Opportunity, listed at a List Price of $1,295,000—positioned well below the $1,421,735 Fair Market Value by 8%. This valuation gap provides $126,735 in Instant Equity for the buyer. Featuring a Turnkey Condition Rating with recent cosmetic renovations, this Residential Income Asset offers a 6.2% cap rate and immediate rental upside. Its proximity to USC and versatile unit mix make it an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-performing, cash-flowing property in West Adams.
Estimated Market Value
$1,425,071+$130,071 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2839 Hillcrest Drive Subject 0 bd · 0 ba · 3,462 sqft · $412 | $1,295,000* List Price | 0 | 0 | 3,462 | $412 | - |
A 2947 West Sold 0 bd · 0 ba · 3,384 sqft · $442 · 0.1 mi | $1,495,000 | 0 | 0 | 3,384 | $442 | 0.1 mi |
B 3446 Hillcrest Drive Sold 0 bd · 0 ba · 3,064 sqft · $383 · 0.4 mi | $1,175,000 | 0 | 0 | 3,064 | $383 | 0.4 mi |
C 2911 S Palm Grove Avenue Active 9 bd · 5 ba · 3,960 sqft · $309 · 0.3 mi | $1,225,000 List Price | 9 | 5 | 3,960 | $309 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
Although built in 1927, the property has undergone a recent comprehensive cosmetic renovation (likely <5 years) featuring new wide-plank flooring, modern light fixtures, and updated kitchen cabinetry. The interior is in mint, turnkey condition. While window AC units are present, the overall finish level and 'ready to rent' status align with the excellent criteria for a renovated asset.
PROSSTRENGTHS & OPPORTUNITIES
- Strong Investment Yield
The property offers a competitive 6.2% cap rate and a 12.14 GRM based on pro forma rents, providing an attractive cash-flowing opportunity in a high-appreciation Los Angeles submarket.
- Versatile Unit Mix
With a large 4BD/2BA main unit, a 3BD/2BA second unit, and a 1BD/1BA rear unit—all featuring private yards—the property maximizes rental density and appeals to a wide range of tenant profiles.
- Prime West Adams Location
Situated just 12 minutes from USC and close to trendy new restaurants, the location ensures steady rental demand from the university community and urban professionals alike.
CONSRISKS & DEFICIENCIES
- Vintage Infrastructure
Originally built in 1927, the property may require higher long-term maintenance costs or future capital expenditures for aging systems compared to newer construction.
- Underperforming Local Schools
Several assigned public schools, including the local middle and high schools, have low ratings (2-3), which could limit the property's appeal to families prioritizing education.
About 2839 Hillcrest Drive
Seize a rare opportunity to acquire a cash-flowing triplex in West Adams — one of Los Angeles' most dynamic and appreciating neighborhoods. This turnkey asset offers immediate upside: the main 4BD/2BA unit is ready to rent or live in with a 3BD/2BA second unit, and a 1BD/1BA rear unit — all with a private yards — maximizing rental income. Based on pro forma rents for the 4bd unit, the property offers an estimated Gross Operating Income of $106,680 and Net Operating Income of $80,455, reflecting a 12.14 GRM and a 6.2% cap rate. Located just 12 minutes from USC, and 15-25 minutes from most of the LA area, the property draws steady rental demand from the university-adjacent community as well as anyone who likes being 20 minutes from everywhere and steps from some of LA's most exciting new restaurants.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1927
- Lot Size
- 6,502 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Virginia Road Elementary School
Grades K-5 • 0.2 mi
5/10
Cienega Elementary School
Grades K-5 • 0.6 mi
5/10
Alta Loma Elementary School
Grades K-5 • 0.9 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 3,462 | 2,090.331 |
| Lot Size | 6,502 | 5,852.908 |
| Price | $1.29M | $830.9K |
| Price per sq ft | $374 | $394 |
| Built year | 1927 | 1928 |
| HOA | $0 | $0 |
| Days on market | 39 | 87 |
Pricing History
Listed for Sale
Oct 1, 2026
$1,295,000
Initial Listing
Sold
May 5, 2015
$650,000
Public Record