2506 South Budlong Avenue
Description
Home) property located in the heart of Jefferson Park, just
steps from the USC Patrol Zone. 2 Units will be delivered
Tenant Ready by COE! These spacious units feature new
flooring, high ceilings, and renovated kitchens. Boasting an
excellent unit mix of (3) 2-Bed/1-Bath and (2) 1-Bed/1-BathUnits, this partially renovated asset is ideal for any value-
add investor with strong income. Priced at $252/Sq Ft, this property will come with two
tenant...We are pleased to present a 5-unit (4 units + Single Family
Home) property located in the heart of Jefferson Park, just
steps from the USC Patrol Zone. 2 Units will be delivered
Tenant Ready by COE! These spacious units feature new
flooring, high ceilings, and renovated kitchens. Boasting an
excellent unit mix of (3) 2-Bed/1-Bath and (2) 1-Bed/1-BathUnits, this partially renovated asset is ideal for any value-
add investor with strong income. Priced at $252/Sq Ft, this property will come with two
tenant ready units and an additional 77% in Rental Upside! With a new roof installed in 2024 and updated Gas and
Sewer lines, this asset comes with very minimal
maintenance requirements, as tenants are responsible for
Gas, Electricity and Trash. Once stabilized, 2506 Budlong
will operate at 6.75 GRM and a 11.70% Pro Forma Cap Rate! The subject property boasts a "Walk Score" of 88-Making
this a very walkable neighborhood. The subject property is conveniently located in-between
Downtown Culver City, Downtown Los Angeles and the
city's metro line. Renters will enjoy the proximity to the 10,
405, and 110 Freeways, making commuting in Los Angeles
a breeze. This is an excellent opportunity to acquire an
investment property with strong day one income and
immense upside.
- Listed by Aaron Jacobson • DRE #02100737 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-729-1559
- Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 2506 South Budlong Avenue
Property Details for 2506 South Budlong Avenue
| Status | Active |
|---|---|
| MLS # | SB24149982 |
| Days on Market | 120 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Residential Income |
| Year Built | 1921 |
| Lot Size | 0.16 AC / 6,752 SF |
| County | Los Angeles County |
Building Information for 2506 South Budlong Avenue
Property Information for 2506 South Budlong Avenue
- Gross Income: $94,089
- Gross Scheduled Income: $94,089
- Vacancy Allowance Rate: 3
- Gross Operating Income: $91,267
- Net Operating Income: $61,100
- Gross Multiplier: 11.96
- Cap Rate: 5.43
- Operating Expense: $30,167
- Operating Expense Percent: 32.00%
- New Taxes Expense: $14,333
- Gardener Expense: $600
- Fuel Expense: $0
- Pest Control Expense: $600
- Electric Expense: $0
- Insurance Expense: $4,460
- Maintenance Expense: $3,500
- Professional Management Expense: $3,764
- Trash Expense: $0
- Water Sewer Expense: $3,750
- Total Expenses: $30,167
- Tax Block: E
- Tax Tract Number: 123
- Tax Census Tract: 2216.01
- Tax Lot: 5
- Community Features: Biking, Dog Park, Sidewalks
- Laundry: Yes
- Laundry Features: Gas Dryer Hookup, Washer Hookup
- Entry Location: Front
- Pool Features: None
- Pool Description: None
- Lot Features: 0-1 Unit/Acre
- Number Of Units: 5
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 3
- Uncovered Spaces: 3
- Open Other Spaces Total: 3
- Parking Garage Spaces: 3
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $3,036
- Unit Type Total Rent: $3,036
- Unit Type Pro Forma: 3052
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $796
- Unit Type Total Rent: $796
- Unit Type Pro Forma: 3052
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $796
- Unit Type Total Rent: $796
- Unit Type Pro Forma: 2395
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $737
- Unit Type Total Rent: $737
- Unit Type Pro Forma: 3052
- Unit Type Type: 4
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Actual Rent: $0
- Unit Type Total Rent: $2,395
- Unit Type Pro Forma: 2395
- Unit Type Type: 5
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 5
- Number Of Separate Gas Meters: 5
- Number Of Separate Water Meters: 1
Property History for 2506 South Budlong Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 2506 South Budlong Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | K to 12 | |||
| Public - | 9 to 12 | |||
| Public - | K to 10 |
Rating | School | Distance |
|---|---|---|
Vermont Avenue Elementary School PublicK to 5 | ||
Foshay Learning Center PublicK to 12 | ||
West Adams Preparatory High School Public9 to 12 | ||
Sophia T. Salvin Special Education Center PublicK to 10 |
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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Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson, DRE #02100737; Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763
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.