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$ 1,850,000
Est. payment | /mo
8,062 SqFt
$ 1,850,000
Est. payment | /mo
8,062 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,062 sqft
Price per Sqft $229
MLS Listing ID CL26653611
HOA Y/N No
Year Built 1911
Lot Size 6,801 Sqft
Acres 0.16
Property Sub-Type Other
Property Description
RENTAL INCOME: $187,968.00 per year / $15,664.00 per month. Excellent opportunity to acquire a 16-unit apartment building in the West Adams district of Los Angeles by USC at a $115,625.00 cost per unit and $229.47 cost per square foot. This 8,062 sq. ft. building resides on a 6,801 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. 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 in a great area to their portfolio and an excellent opportunity for a 1031 exchange buyer. Potential future student housing. Positioned in the northwest area of the 90007 zip code, 1.8 miles from USC, 2.5 miles from The Crypto.com Arena. CURRENT CAP RATE 6.04 % / CURRENT GRM 9.8 PRO FORMA CAP RATE 11.49 % / PRO FO
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Floor Furnace
Fireplace No
Laundry Common Area
Building
Lot Description Other
New Construction No
Others
Tax ID 5054018012
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Billy Rojas • Ashby & Graff
Nearby Locations
9030 BRENTWOOD BLVD, BRENTWOOD, California, 94513, United States