2327 S Budlong Avenue
Los Angeles, CA 90007
- – beds
- – baths
- – sqft
- 6,801 sqft lot
- 1911 build
- – on site
Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $118,750.00 cost per unit and $235.00 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. 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 5.0 % / CURRENT GRM 10.2 - PRO FORMA CAP RATE 10.6 % / PRO FORMA GRM 6.6
Last checked:
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Last updated Feb 19, 2025
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MLS# 25497021 —
The Building
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Year Built:1911
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New Construction:No
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Building Area Total:8062.00
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Total Number Of Units:16
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# of Buildings:1
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Stories Total:2
Interior
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Levels:Two
Location
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Directions:South of the 10 Freeway, East of Normandie Ave., North of West Adams Blvd.
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Latitude:34.03469100
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Longitude:-118.29677000
The Property
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Property Type:Residential Income
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Zoning:LAR2
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Lot Size Area:6801.0000
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Lot Size Dimensions:50x135
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Lot Size Acres:0.1561
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Lot Size SqFt:6801.00
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5054018012
Heating & Cooling
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Heating:1
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Heating:Floor Furnace
Appliances
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Appliances:Dishwasher, Refrigerator
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Included:Yes
The Community
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Inclusions:Washer & Dryer machines.
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking:No
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Parking:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/11/25
Feb 11, 2025
|
Listed / Active | CRMLS_CA | $1,900,000 | 50.0% (4.5% / YR) |
|
8/5/24
Aug 5, 2024
|
Price Changed | CRMLS_CA | ||
|
3/16/24
Mar 16, 2024
|
Listed / Active | CRMLS_CA |
