2327 S Budlong Ave

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Address: 2327 S Budlong Ave, Los Angeles, CA 90007, USA
Created date: May 23, 2024
Date last updated: May 23, 2024

Property Description

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

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $2,350,000
No. of Units: 16
Year Built: 1911
Lot Size: 8,062.00 Sq ft
Opportunity Zone: No
Price per unit: $146,875
Property Website Click Here
Number of Bedrooms: 0
Number of Bathrooms: 0
Address: 2327 S Budlong Ave, Los Angeles, CA 90007, USA
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