Skip To Content

2922 S Budlong Avenue

Los Angeles (City), CA 90007
  • $2,995,000
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: SR21211725
UPDATED: 48 min ago
$2,995,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

We are pleased to present the 10 units at 2922 S Budlong with great metrics.Gross income of $216,192, current Cap rate of 4.7%, current GRM 13.8. 100% paying tenants. Located within walking distance from USC Campus and & University Village.The property consists of four 2 bedrooms/1 bath, three 2 bedroom/2 baths, two 1 bedroom/1 bath and a 3 bedroom/3 bathroom unit.Current ownership has extensively remodeled four of the ten units ground up with new kitchens, new appliances, new bathrooms, new flooring and new lighting. The remodeled units are achieving premium rents. Value-add potential for a new owner to continue renovating the remaining six units to achieve superior returns. +/- 37% upside in rents.Located in the DPS Patrol Zone. The Property is Separately Metered for Gas, Electric. 10 parking on site spaces.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T23:26:27.217. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
www.theparsonsrealestateteam.com/homes/121841709
Print Image

2922 S Budlong Avenue Los Angeles (City), CA 90007

  • Price: $2,995,000
  • Status: Active
  • Updated: 48 min ago
  • ID#: SR21211725
0
Beds
0
Baths
0
½ Baths
0.2
Acres
1964
Built
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
We are pleased to present the 10 units at 2922 S Budlong with great metrics.Gross income of $216,192, current Cap rate of 4.7%, current GRM 13.8. 100% paying tenants. Located within walking distance from USC Campus and & University Village.The property consists of four 2 bedrooms/1 bath, three 2 bedroom/2 baths, two 1 bedroom/1 bath and a 3 bedroom/3 bathroom unit.Current ownership has extensively remodeled four of the ten units ground up with new kitchens, new appliances, new bathrooms, new flooring and new lighting. The remodeled units are achieving premium rents. Value-add potential for a new owner to continue renovating the remaining six units to achieve superior returns. +/- 37% upside in rents.Located in the DPS Patrol Zone. The Property is Separately Metered for Gas, Electric. 10 parking on site spaces.
Exterior Features

Lot Features Near Park Number Of Separate Electric Meters 11 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Cap Rate 4.7 Common Interest Community Apartment Community Features BikingSidewalksPark Electric Expense 0 Fuel Expense 1800 Garage YN No Gross Income 216192 Gross Scheduled Income 216192 Insurance Expense 6000 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New Loan Maintenance Expense 4800 Net Operating Income 142508 New Construction YN No New Taxes Expense 37437 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Operating Expense 67198 Pest Control Expense 600 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 3761 Vacancy Allowance Rate 3 Water Sewer Expense 11500 Water Source Public Zoning Lar2

Listing provided courtesy of Anie Mayelian of Keller Williams Encino-Sherman Oaks


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T23:26:27.217. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_367328939-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_367328939-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_367328939-1.jpg
Logo
The Parsons Team | Keller Williams Realty
251 S. Lake Ave #150
Pasadena CA, 91101