2639 S Budlong AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90007
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,400 sqft
Price per Sqft $494
MLS Listing ID 24443361
Bedrooms 14
HOA Y/N No
Year Built 1905
Lot Size 8,102 Sqft
Acres 0.186
Property Description
We are pleased to offer the opportunity to acquire this 14-bedroom investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property and all fourteen (14) bedrooms were completely updated & remodeled - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout. The two-story structures, consisting of two separate single-family residences, were constructed of wood frame and stucco on a raised foundation. The front house was built in 1905 and the rear house was recently constructed in 2021, with a total square footage of 4,400 SF (not including a large attic loft of about 550 SF), on an 8,100 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable mix, consisting of one (1) vacant 9-bedroom + 5-bathroom SFR (approximately 3,200 SF), and one (1) 5-bedroom + 4-bathroom SFR (approximately 1,200 SF). The front house comes with approved plans + permits, which would allow investors to legally renovate/ add additional bedrooms + bathrooms to add even more value to the property. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The rear 5-bedroom + 4-bathroom SFR is 100% occupied, and fully leased for the 2024-2025 year. The investment is priced at an 8.5% cap rate - excellent cashflow opportunity.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Fireplace No
Appliance Dishwasher,Disposal,Refrigerator,Trash Compactor,Dryer,Washer
Exterior
Garage Assigned
Parking Type Assigned
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5054016014
Special Listing Condition Standard