2327 S Budlong Avenue, Los Angeles, CA 90007
- $1,850,000
- 16
- BA
- 8,062
- SqFt
- List Price
- $1,850,000
- Status
- ACTIVE
- MLS#
- 26653611
- Year Built
- 1911
- Bathrooms
- 16
- Living Sq. Ft
- 8,062
- Lot Size
- 6,801
- Acres
- 0.16
- Lot Location
- Corners Marked
- Days on Market
- 162
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
RENTAL INCOME: $187,968.00 per year / $15,664.00 per month. Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $115,625.00 cost per unit and $229.47 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 6.04 % / CURRENT GRM 9.8 PRO FORMA CAP RATE 11.49 % / PRO FORMA GRM 6.4
Additional Information
- Appliances
- Dishwasher, Refrigerator
- Heat
- Floor Furnace
- Attached Structure
- Detached
- Number Of Units Total
- 16
Listing courtesy of Listing Agent: Billy Rojas (williamyesidrojas@hotmail.com) from Listing Office: Ashby & Graff.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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.