Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

8

Building size

7,318 sqft

Lot size

7,775 sqft

Year built

1931

Stories

2

Style

Spanish

View

None

Status

Active

Days on market

8

MLS #

247894325

About this property

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

2717 S Budlong Avenue

Los Angeles, Los Angeles, CA, 90007