2327 S Budlong Avenue Los Angeles, CA 90007
Excellent opportunity to acquire a 16 unit apartment building in the West Adams district of Los Angeles by USC at a $147, 000 cost per unit and $291.00 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 4.05% / CURRENT GRM 14.8 - PRO FORMA CAP RATE 8.73% / PRO FORMA GRM 8.7
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site104 Days
- MLS StatusActive
- MLS ID Number24369091
- Home Size Source N/A
- Year Built1911
- Lot Size0.1561 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking None
- Parking Spaces 0
- Number of Stories 22
- Acreage 0.1561
- Security Gated Community
- Zoning LAR2
- Listing Conditions Standard
Interior Features
- Heating Floor Furnace
- Appliances DishwasherRefrigerator
Community Features
- Senior Community No
- MLS Area C16 - Mid Los Angeles
- Security Features Gated Community