3023 S Budlong Ave
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3023 S Budlong Ave
3 Unit Apartment Building $2,200,000 ($733,333/Unit) 6.64% Cap Rate Los Angeles, CA 90007
Investment Highlights
- USC Student housing investment!
- Within walking distance to USC and USC Village!
- Property is located within USC's DPS Patrol Zone!
- 6 on-site parking spaces!
Executive Summary
EXCELLENT INVESTMENT OPPORTUNITY!
USC Student housing investment! Property was completely renovated between 2020 and 2022. Property was taken down to the studs and renovated to meet the needs of the modern student. The property is comprised of 1 - 5 bed unit, 2 - 4 bed units, and 1 - 3 bed unit. The building is over 4,680 Sq. Ft. in total area and sits on a 6,708 Sq. Ft. lot and is secured by a gate. The property can fit up to 6 parking spaces. Property is within close proximity to the main USC campus and USC Village.
DRIVE BY ONLY! DO NOT DISTURB THE TENANTS!
USC Student housing investment! Property was completely renovated between 2020 and 2022. Property was taken down to the studs and renovated to meet the needs of the modern student. The property is comprised of 1 - 5 bed unit, 2 - 4 bed units, and 1 - 3 bed unit. The building is over 4,680 Sq. Ft. in total area and sits on a 6,708 Sq. Ft. lot and is secured by a gate. The property can fit up to 6 parking spaces. Property is within close proximity to the main USC campus and USC Village.
DRIVE BY ONLY! DO NOT DISTURB THE TENANTS!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,200,000 | Apartment Style | Garden |
| Price Per Unit | $733,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.64% | Building Size | 4,680 SF |
| Gross Rent Multiplier | 10.6 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Price | $2,200,000 |
| Price Per Unit | $733,333 |
| Sale Type | Investment |
| Cap Rate | 6.64% |
| Gross Rent Multiplier | 10.6 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,680 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1913 |
| Parking Ratio | 1.28/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $3,050 | - |
| 4+3 | 2 | $4,400 | - |
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Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 5040-023-022 | Improvements Assessment | $658,600 (2024) |
| Land Assessment | $987,901 (2024) | Total Assessment | $1,646,501 (2024) |
PROPERTY TAXES
Parcel Number
5040-023-022
Land Assessment
$987,901 (2024)
Improvements Assessment
$658,600 (2024)
Total Assessment
$1,646,501 (2024)
zoning
| Zoning Code | LAR2 |
| LAR2 |
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3023 S Budlong Ave
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