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$ 1,100,000
Est. payment | /mo
8 Beds
5 Baths
4,460 SqFt
$ 1,100,000
Est. payment | /mo
8 Beds
5 Baths
4,460 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,460 sqft
Price per Sqft $246
MLS Listing ID 25499367
Bedrooms 8
HOA Y/N No
Year Built 1921
Lot Size 6,751 Sqft
Property Description
2506 S Budlong Ave is a charming 5-unit apartment building located in Jefferson Park, just steps from the USC Patrol Zone. Built in the early 1920s, this well-maintained property consists of (3) two-bedroom / one-bathroom units and (2) one-bedroom / one-bathroom units. The top floor of the front structure consists of only two-bedroom / one-bath units while the bottom floor is split between a renovated two-bedroom / one-bathroom unit on the left, and a one-bedroom / one-bathroom unit on the right. The back structure is a fully renovated detached 1-bedroom / 1-bathroom house. The property is fully occupied and presents investors with immediate operating cash flow with the potential to increase the gross income by 62%. The property also includes three unused parking spaces, which could generate additional income, and offers significant ADU potential, with the ability to develop up to four ADUs in the rear or immediately add a Tiny Home ADU (buyer to verify).The property has recently undergone major improvements, including a new roof on the rear structure and a repaired roof on the main building. It also features updated gas and sewer lines, ensuring minimal maintenance for a new owner. Once fully stabilized, the property will operate at a 7.28 GRM and 10.52% Cap Rate. Loaded in a highly walkable neighborhood and a 5-minute drive to USC, this property offers easy access to Downtown Culver City, Downtown LA, and the major freeways (10, 205, and 110). This is an excellent opportunity to acquire a cash-flowing asset with multiple value-add avenues, including ADU potential, parking income, and significant rental upside.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Driveway
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5054020003
Special Listing Condition Standard
Listed by Jake Glaser • Lyon Stahl Investment Real Estate, Inc.