2327 S Budlong Avenue, Los Angeles, CA 90007
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Listed Price :
$2,050,000
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Beds :
0
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Baths :
16
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Property Size :
8,062 sqft
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Year Built :
1911
Property Description
Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $128,125.00 cost per unit and $254.00 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. Positioned in the northwest area of the 90007 zip code, 1.8 miles from USC, 2.5 miles from The Crypto.com Arena and just minutes from Koreatown. CURRENT CAP RATE 4.68% / CURRENT GRM 12.9 PRO FORMA CAP RATE 10.01% / PRO FORMA GRM 7.6
Interior Features
| Bathroom Information |
| Bathrooms |
16 |
Listing Information
| Address |
2327 S Budlong Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90007 |
| County |
Los Angeles |
| Listing Agent |
Billy Rojas DRE #01395544 |
| Courtesy Of |
Ashby & Graff |
| List Price |
$2,050,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
8,062 |
| Lot Size |
6,801 |
| Year Built |
1911 |
Listing information courtesy of: Billy Rojas, Ashby & Graff. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:51 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
