2327 South Budlong Avenue
$2,050,000
—
16
8,062
8,062
$254
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
- Listed by Billy Rojas • DRE #01395544 • Brokerage DRE #01938560 • Ashby & Graff
Property Details for 2327 South Budlong Avenue
Zoning
LAR2
Parcel Number5054018012
Total Units16.0
Living Area8062
Source Living AreaVendor Enhanced
AreaMid Los Angeles (C16)
Vacancy Rate0
Lot Size Area6801
LISTING UPDATED: 08/05/2024 10:20 AM
Property Details for 2327 South Budlong Avenue
Status | Active |
---|---|
MLS # | 24-369091 |
Days on Market | 249 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1911 |
Lot Size | 0.16 AC / 6,801 SF |
County | Los 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
Property History for 2327 South Budlong Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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