Active

2327 S Budlong Ave

Los Angeles CA, 90007

$2,350,000


$291.49 per sqft

Active

8,062 sqft

Residential

Built in 1911

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

24-369091

MLS ID

March 16, 2024

Listed

April 5, 2024

Updated

Map

2327 S Budlong Ave
Los Angeles CA, 90007

Interior Features

Total Stories

2


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

8


Garage

No


Parking

None


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

LAR2

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 OMNI Homes shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

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Data last updated 4/5/2024

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