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2639 S Budlong Ave, Los Angeles, CA 90007

Writer's picture: Holmes Properties And REITHolmes Properties And REIT

14 bd | 9 ba | 4,200 sqft

2639 S Budlong Ave, Los Angeles, CA 90007

Off market | Zestimate®: $1,326,600

Rent Zestimate®: $9,432

Est. refi payment: $8,664/mo



About This Home

2639 S Budlong Avenue


Excellent cash-flowing Student Housing investment grossing $180,078 in rent annually. Actual current Cap Rate at a stunning 6.74%. The property is in a prime location for USC student housing located in the USC DPS Safety Patrol zone and walking distance to Ralph's and USC. Both units are under a Master Lease to a USC student management company until August 2024, with no vacancies. The rear ADU was constructed in 2020. All utilities are covered by tenants. Both units total approximately 4187 square feet of rentable space with an additional 550 square feet of loft space that could potentially be converted to a junior ADU by a savvy developer. Front unit has solar panels that are paid in full. The properties sit on a huge 8099 sq ft lot that is rare to find in the 90007 zip code and has LARD1.5 zoning (potentially build 5 units by right) and HPOZ. Buyer to verify all information with city. Property is fully occupied by students - do not disturb tenants. Disturbing tenants will disqualify buyer. Investment property is to be sold As-Is, cash offers preferred.



Home Highlights


Parking

  • No Info


Outdoor

  • No Info


A/C

  • Heating & Cooling


HOA

  • None


Price/Sqft

  • No Info


Listed

  • No Info



Home Details for 2639 S Budlong Ave


Interior Features

Heating & Cooling

  • Heating: Forced Air


Air Conditioning

  • Cooling System: Central

  • Heating Fuel: Forced Air


Levels, Entrance, & Accessibility

  • Stories: 2

  • Floors: Hardwood, Laminate, Linoleum Vinyl

  • Gated Entry


Appliances & Utilities

  • Disposal

  • Dryer

  • Microwave

  • Refrigerator

  • Washer


Property Information

Year Built

  • Year Built: 1905

  • Year Updated: 2020


Property Type / Style

  • Property Type: Multi Family


Exterior Features

Parking & Garage

  • Parking Spaces: 9

  • Parking: On Street


Community

  • Units in Building: 2


Lot Information

  • Lot Area: 8097 sqft

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