$2,700,000
$2,850,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
8,751 Sqft Lot
SOLD DATE : 01/11/2022
Key Details
Sold Price $2,700,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR21230367
Sold Date 01/11/22
HOA Y/N No
Year Built 1964
Lot Size 8,751 Sqft
Property Description
We are pleased to present the Price Reduced, 10 Unit Building at 2922 S Budlong. Cap Rate of 4.5% on actual income and the property cash flow's well with a gross income of $16,453/month. 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. +/- 48.31% upside in rents. Located in the DPS Patrol Zone. The Property is Separately Metered for Gas, Electric.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR2
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Curbs, Sidewalks, Park
Total Parking Spaces 10
Private Pool No
Building
Lot Description Near Park
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5054035009
Energy Description 2234.0
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Shawn Mehrannia • Home Team Realty
15910 Ventura Blvd. Suite 101 Encino CA 91436, Encino, CA, 91436, USA