Courtesy of: Anie Mayelian 00778825 | Keller Williams Encino-Sherman Oaks
Purchase Type: Sale
MLS ID: SR21211725
Days On Market: 20
Year Build: 1964
Lot size: 0.201
Property Type: Residential Income
Property Subtype: Apartment
New Construction: No
Swimming Pool: No
Address: 2922 S Budlong Avenue
County: Los Angeles
City: Los Angeles
Neighborhood: C16 - Mid Los Angeles
Pool Features: None
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.