2327 S Budlong Avenue,Los Angeles, CA 90007
Los Angeles, CA 90007
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
Details
| MLS # | 26653611 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1911 |
| Days On Site | 204 |
| Listing Provided By | Ashby & Graff | Billy Rojas |
Features
| Bath(s) | 16 |
|---|---|
| SQ Feet | 8,062 |
| Story(s) | 2 |
| Units | 16 |
| Building(s) | 1 |
| Zoning | LAR2 |
| Acreage | 0.16 |
Interior
| Heating | Floor Furnace |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Dishwasher, Refrigerator |
Exterior
| Security Features | Resident Manager |
|---|---|
| Lot Features | Corners Marked |
Parking
| Parking Features | None |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90007) | |
Price: $1,850,000 low | high Med: $7,995 sqft: 8,062 low | high Med: 2,733 $ / sqft: $229 low | high Med: $3 On site: 204 low | high Med: 335 | |
Market Activity 90007
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90007) | |
Price: $1,850,000 low | high Med: $7,995 sqft: 8,062 low | high Med: 2,733 $ / sqft: $229 low | high Med: $3 On site: 204 low | high Med: 335 | |
