This 8 unit value add opportunity is in the heart of the USC Secure zone and across the street from Richardson Family Park. It has explosive rental upside of over 80%. The Market cap rate at Pro-forma rents is over 10%. There is a very desirable unit mix of (6) 2BR/1BA, and (2) 1BR/1BA Units. The average unit size is 822 SF. One of the 2BR units will be delivered vacant. The property is on a 7,715 SF lot and includes (8) parking spaces. It is separately metered for gas & electric insuring low operating costs, and the electrical service panel was recently updated. The family has owned the property for over 38 years, and they are highly motivated to give up the ownership. Nearby amenities include the USC campus, BMO Stadium, Lucas Museum, Exposition Park and much more.
Property Details
Price:
$1,495,000
MLS #:
25500327
Status:
Pending
Baths:
0
Address:
2717 S Budlong Avenue
Type:
Residential Income
Neighborhood:
c16midlosangeles
City:
Los Angeles
Listed Date:
Feb 17, 2025
State:
CA
ZIP:
90007
Lot Size:
7,775 sqft / 0.18 acres (approx)
Year Built:
1931
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Schools
Interior
Appliances
Disposal
Cooling
None
Heating
Natural Gas
Exterior
Parking Features
Assigned
Parking Spots
8.00
Stories Total
2
Financial
Tenant Pays
Gas, Electricity
Map
Community
- Address2717 S Budlong Avenue Los Angeles CA
- AreaC16 – Mid Los Angeles
- CityLos Angeles
- CountyLos Angeles
- Zip Code90007
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2717 S Budlong Avenue
Los Angeles, CA
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