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$ 1,250,000
Est. payment /mo
Active
2717 S Budlong Avenue Los Angeles, CA 90007
7,318 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,318 sqft
Price per Sqft $170
MLS Listing ID CL26996775
HOA Y/N No
Year Built 1931
Lot Size 7,775 Sqft
Acres 0.1785
Property Sub-Type Other
Property Description
2717 S. Budlong Ave is an 8-unit property in University Park, offered at $1,250,000 with approx. 74% rental upside. Built in 1931, the property totals approx. 7,318 SF on a 7,775 SF lot and includes (6) 2-bdrm./1-bath units and (2) 1-bdrm./1-bath units. At $156,250 per unit and $171 per SF, the property is positioned at a relatively accessible basis for an 8-unit building this close to USC and Exposition Park. The 2-story building has the character of a vintage Spanish-style property, with mature landscaping, distinctive architectural details, and 8 on-site parking spaces at the rear. Six of the eight units are 2-bdrm. apartments, giving the property larger floor plans that can work well for roommates, students, or young families. Current monthly income totals approx. $9,569, compared with projected market income of approx. $16,610 per month. That difference represents approx. 74% rental upside, with projected market performance of a 10.87% CAP and 6.27 GRM. Located directly across from Elinor and Don Richardson Family Park, 2717 S. Budlong sits in a residential pocket of University Park approx. 1.1 miles from USC, USC Village, and Exposition Park. That places the property within a compact radius of campus employment, dining, retail, museums, sports, and cultural destinations including the Natural History Museum, California Science Center, LA Memorial Coliseum, BMO Stadium, and the Lucas Museum of Narrative Art. With USC, USC Village, and Exposition Park just over a mile away, 2717 S. Budlong sits close to a concentration of education, employment, culture, and activity that gives the property a meaningful connection to the surrounding area. The larger 2-bdrm. floor plans and substantial rental upside add to a property that feels both residential in character and well positioned for long-term income growth.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5054015017
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Listed by Max Berger • Compass