Description
Excellent opportunity to acquire a 16 unit apartment building in the Los Angeles area just east of West Adams by USC. This 8,062 sq. ft. building resides on a 6,799 sq. ft. corner lot which consists of 16 very large studios each with their own separate kitchen area. The property is located one block south of the 10 Freeway on an excellent and quiet stretch of Budlong Ave. at 24th St. and surrounded by single family homes and smaller apartment buildings. 65% upside in rents and 100% collection rate. The property retains an excellent on-site manager making this a low maintenance asset for savvy investors. The building is well maintained and all units are individually metered for gas and electric with onsite laundry that brings in approximately $425.00 of additional monthly income. This "bread and butter" building has tremendous upside potential and is perfect for the investor looking to add more units to their portfolio at a low $156,250.00 cost per unit and an excellent opportunity for a 1031 exchange buyer.
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0BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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8,062SQFT
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$310$/SQFT
School Ratings & Info
Description
Excellent opportunity to acquire a 16 unit apartment building in the Los Angeles area just east of West Adams by USC. This 8,062 sq. ft. building resides on a 6,799 sq. ft. corner lot which consists of 16 very large studios each with their own separate kitchen area. The property is located one block south of the 10 Freeway on an excellent and quiet stretch of Budlong Ave. at 24th St. and surrounded by single family homes and smaller apartment buildings. 65% upside in rents and 100% collection rate. The property retains an excellent on-site manager making this a low maintenance asset for savvy investors. The building is well maintained and all units are individually metered for gas and electric with onsite laundry that brings in approximately $425.00 of additional monthly income. This "bread and butter" building has tremendous upside potential and is perfect for the investor looking to add more units to their portfolio at a low $156,250.00 cost per unit and an excellent opportunity for a 1031 exchange buyer.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T18:43:28.007. 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.