2327 S Budlong Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,062 sqft
Price per Sqft $235
MLS Listing ID 25497021
Bedrooms 16
Year Built 1911
Lot Size 6,801 Sqft
Acres 0.1561
Property Sub-Type Multi-Family
Property Description
Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $118,750.00 cost per unit and $235.00 cost per square foot. This 8,062 sq. ft. building resides on a 6,801 sq. ft. corner lot which consists of 16 very large studios each with their own separate kitchen area. The property is located one block south of the 10 Freeway on an excellent and quiet stretch of Budlong Ave. at 24th St. and surrounded by single family homes and smaller apartment buildings. The property retains an excellent on-site manager making this a low maintenance asset for savvy investors. The building is well maintained and all units are individually metered for gas and electric with onsite laundry that brings in approximately $425.00 of additional monthly income. This "bread and butter" building has tremendous upside potential and is perfect for the investor looking to add more units in a great area to their portfolio and an excellent opportunity for a 1031 exchange buyer. Potential future student housing. Positioned in the northwest area of the 90007 zip code, 1.8 miles from USC, 2.5 miles from The Crypto.com Arena. CURRENT CAP RATE 5.0 % / CURRENT GRM 10.2 - PRO FORMA CAP RATE 10.6 % / PRO FORMA GRM 6.6
Location
State CA
County Los Angeles
Area Mid Los Angeles
Zoning LAR2
Rooms
Other Rooms None
Interior
Heating Floor Furnace
Cooling Window Unit(s), Ceiling Fan
Inclusions Washer & Dryer machines.
Equipment Dishwasher, Range/Oven, Refrigerator, Cable, Built-Ins
Laundry Laundry Area
Exterior
Parking Features None
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard