2639 S Budlong Avenue

Los Angeles, CA 90007

$2,175,000

List Price

14

bed Beds

9

shower Baths

4,400 sqft

straighten / sqft

2021

calendar_month Built

Property Description

We are pleased to offer the opportunity to acquire this 14-bedroom investment opportunity, located in the highly desirable DPS Patrol Zone, and walking distance to the University of Southern California (USC). The property and all fourteen (14) bedrooms were completely updated & remodeled - featuring brand new hardwood floors, stainless steel kitchen appliances, quartz counter tops, tiled showers with glass enclosures, in-unit washer & dryers, and high-end finishes throughout. The two-story structures, consisting of two separate single-family residences, were constructed of wood frame and stucco on a raised foundation. The front house was built in 1905 and the rear house was recently constructed in 2021, with a total square footage of 4,400 SF (not including a large attic loft of about 550 SF), on an 8,100 SF lot, zoned LARD1.5. The buildings have been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable mix, consisting of one (1) vacant 9-bedroom + 5-bathroom SFR (approximately 3,200 SF), and one (1) 5-bedroom + 4-bathroom SFR (approximately 1,200 SF). The front house comes with approved plans + permits, which would allow investors to legally renovate/ add additional bedrooms + bathrooms to add even more value to the property. Combined with parental guarantees on leases and occupancy levels routinely achieving 100% for the school year, the asset represents a low-risk investment that is poised for continued growth and excellent operating fundamentals. The rear 5-bedroom + 4-bathroom SFR is 100% occupied, and fully leased for the 2024-2025 year. The investment is priced at an 8.5% cap rate - excellent cashflow opportunity.

Listing Information

List Price $2,175,000
Status Active
MLS 24443361
Type Residential Income
Year Built 2021
Lot Size 8,102
Structure Size 4,400
Courtesy Of KW Advisors
Listing Agent Davis Saadian DRE#01921748

Interior Features

Total Bedroom
Bedrooms 14
Total Bathroom
Bathrooms 9

Exterior Information

Maps

Listing information courtesy of: Davis Saadian, KW Advisors . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 23rd, 2024 at 5:14 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.