Active
2327 S Budlong Ave
Los Angeles CA, 90007
$2,050,000
$254.28 per sqft
Active
16 Baths
8,062 sqft
Multi-family
Built in 1911
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
24-369091
MLSⓇ ID
March 16, 2024
Listed
October 2, 2024
Updated
Map
2327 S Budlong Ave
Los Angeles CA, 90007
Interior Features
Total Stories
2
Total Bathrooms
16
Appliances
Dishwasher, Range/Oven, Built-Ins, Refrigerator, Cable
Laundry Description
Laundry Area
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s), Ceiling Fan
Heating
Yes
Heating Description
Floor Furnace
Exterior/Building Features
Lot Size
0.16 Acres
Other Property Details
Area Name
Mid Los Angeles
Days on Market
150
Garage
No
Parking
None
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAR2
Listing History
Date | Event | Price |
---|---|---|
8/5/2024 | Price change | $2,050,000 -13% |
Listed by Billy Rojas with Ashby & Graff
Listing Contact: 310-856-9153
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Clara Yang | CA DRE# 01201082 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 10/2/2024