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$1,250,000
Est. payment /mo
14 Beds
8 Baths
7,318 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,318 sqft
Price per Sqft $170
MLS Listing ID 26996775
Bedrooms 14
HOA Y/N No
Year Built 1931
Lot Size 7,775 Sqft
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 two-story building has the character of a vintage Spanish-style property, with a landscaped street presence, mature greenery, distinctive architectural details, and 8 on-site parking spaces at the rear. Six of the eight units are 2-bdrm. apartments, giving the property a unit mix 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 supports approx. 74% rental upside, with projected market performance of a 10.42% 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 just over a mile from USC, USC Village, and Exposition Park. USC, USC Village, and Exposition Park are all approx. 1.1 miles away, placing campus employment, dining, retail, museums, sports, and major cultural destinations within a compact radius. Exposition Park includes the Natural History Museum, California Science Center, LA Memorial Coliseum, BMO Stadium, and the Lucas Museum of Narrative Art, while USC and USC Village bring year-round student, faculty, employment, and neighborhood activity to the surrounding area. 2717 S. Budlong Ave brings together a predominantly 2-bdrm. unit mix, substantial rental upside, and a location closely tied to both USC and Exposition Park. With current rents well below the market rents shown in the property's underwriting, there is also a clear path for income to grow over time.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Uncovered
View Y/N No
View None
Total Parking Spaces 8
Building
Faces East
Story 2
Entry Level Two
Architectural Style Spanish
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5054015017
Special Listing Condition Standard
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Listed by Max Berger Compass #02054048
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