2327 South Budlong Avenue

Los Angeles, CA 90007

$2,050,000
Price
—
Beds
16
Baths
8,062 Sq. Ft.
$254 / Sq. Ft.
8,062
Sq. Ft.
$254
per Sq. Ft.

Description

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...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 4.64% / current grm 12.9 pro forma cap rate 10.01% / pro forma grm 7.6
  1. Listed by Billy Rojas • DRE #01395544 • Brokerage DRE #01938560 • Ashby & Graff

Property Details for 2327 South Budlong Avenue

Zoning
LAR2
Parcel Number
5054018012
Total Units
16.0
Living Area
8062
Source Living Area
Vendor Enhanced
Area
Mid Los Angeles (C16)
Vacancy Rate
0
Lot Size Area
6801
LISTING UPDATED: 08/05/2024 10:20 AM

Property Details for 2327 South Budlong Avenue

StatusActive
MLS #24-369091
Days on Market249
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1911
Lot Size0.16 AC / 6,801 SF
CountyLos Angeles County

Building Information for 2327 South Budlong Avenue

Stories2Residences-Year Built1911Building Size-Lot Size0.16 AC / 6,801 SF

Property Information for 2327 South Budlong Avenue

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Studios
  • Security Features: Gated
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $163,632
  • Net Operating Income: $95,222.00
  • Gross Income: $163,632
  • Cap Rate: 4.64%
  • Gross Rent Multiplier: $12.90
  • Actual Annual Gross Rent: $158,532.00
  • Actual Gross Annual Income: $163,632
  • Actual Rent Total: $158,532.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water
  • Total Annual Expense: 63655
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1561
  • Lot Size Square Feet: 6801
  • Lot Size Dimensions: 50x135
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s), Ceiling Fan
  • Heating: Floor Furnace
  • Heating Type: Floor Furnace
  • Equipment: Dishwasher, Range/Oven, Built-Ins, Refrigerator, Cable
  • Laundry: Laundry Area
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-16-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Cable TV, Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 16
  • Unit Furnished: No
  • Unit Rent: $826.00
  • Unit Actual Rent: $13,211.00
  • Unit Projected Rent: $22,400.00
  • Like Units: 16
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $589,128.00
  • Assessed Improvement Percent: 39.46
  • Assessed Land Value: $903,722.00
  • Assessed Land Percent: 60.54
  • Assessed Total Value: $1,492,850.00

Property History for 2327 South Budlong Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2327 South Budlong Avenue

Taxable ValueLand$921,796Additions$601,510Total$1,523,306
Tax Record2024$19,725 ($1,644 / month)
Home Facts
Total Finished SqFt8,062 SqFtAbove Grade Finished SqFt8,062 SqFtLot Size6,799 SqFtStyleMulti-Family Res (5+ Units)Year Built1911ZoningLAR2CountyLOS ANGELESAPN5054-018-012

Schools near 2327 South Budlong Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 12
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Vermont Avenue Elementary School
PublicK to 5

Foshay Learning Center
PublicK to 12

West Adams Preparatory High School
Public9 to 12

Stem Preparatory Academy
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2327 South Budlong Avenue is a multi-family home for sale in Los Angeles, CA 90007. This property was listed for sale on March 16, 2024 by Ashby & Graff, it's currently listed at $2,050,000. It has been on the market for a total of 249 days and was last sold on January 7, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Vermont Avenue Elementary School, Foshay Learning Center and West Adams Preparatory High School. 2327 South Budlong Avenue is a 0-bed, 16-bath, 8,062 sqft multi-family home built in 1911.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Ashby & Graff, Billy Rojas, DRE #01395544

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.