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2504 S Budlong Ave, Los Angeles, CA 90007
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2504 S Budlong Ave Los Angeles, CA 90007

$1,150,000
  • 8 Beds
  • 5 Baths
  • 4,460 Sq.Ft.
For Sale
$1,150,000 Get Pre-Qualified
Map preview of 2504 S Budlong Ave, Los Angeles, CA 90007

Property Overview: 2504 S Budlong Ave Los Angeles, CA has 8 bedrooms, 5 bathrooms, 4,460 living square feet and 6,752 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present a 5-unit (4 units + Single Family Home) property located in the heart of Jefferson Park, just steps from the USC Patrol Zone. 2 Units will be delivered Tenant Ready by COE! These spacious units feature new flooring, high ceilings, and renovated kitchens. Boasting an excellent unit mix of (3) 2-Bed/1-Bath and (2) 1-Bed/1-BathUnits, this partially renovated asset is ideal for any value- add investor with strong income. Priced at $257/Sq Ft, this property will come with two tenant ready units and an additional 78% in Rental Upside! With a new roof installed in 2024 and updated Gas and Sewer lines, this asset comes with very minimal maintenance requirements, as tenants are responsible for Gas, Electricity and Trash. Once stabilized, 2506 Budlong will operate at 6.90 GRM and a 11.42% Pro Forma Cap Rate! The subject property boasts a "Walk Score" of 88-Making this a very walkable neighborhood. The subject property is conveniently located in-between Downtown Culver City, Downtown Los Angeles and the city's metro line. Renters will enjoy the proximity to the 10, 405, and 110 Freeways, making commuting in Los Angeles a breeze. This is an excellent opportunity to acquire an investment property with strong day one income and immense upside.

Listed by Aaron Jacobson | BRE #02100737 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 13 minutes ago | Last updated: August 20th, 2024 | Source CRMLS | DOM: 53

Home details

Lot Sq. Ft
6,752
HOA Dues
$0/mo
Year built
1921
Garage
3 Car
Property Type:
Mixed Use
Status
Active
MLS#
SB24149982
City
Los Angeles
County
Los Angeles
Time on Site
58 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $795
  • Total Rent: $795
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $737
  • Total Rent: $737
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Total Rent: $2,395
  • Pro Forma/Market Rent: $2,395
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $795
  • Total Rent: $795
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Total Rent: $2,995
  • Pro Forma/Market Rent: $2,995
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.3%
  • Gross Rent Multiplier: 12.22
  • Gross Scheduled Income: $94,089
  • Net Operating Income: $60,800
  • Gross Operating Income: $91,267
Annual Expense Breakdown
  • Total Operating Expense: $30,467
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $14,333
  • Trash: $0
  • Gardener: $600
  • Insurance: $4,460
  • Maintenance: $3,500
  • Professional Management: $3,764
  • Water/Sewer: $3,750

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Property Details for 2504 S Budlong Ave

Interior Features
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 6
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 5
  • Parcel Number: 5054020003
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Off Adams and Vermont
Neighborhood Information
  • Community Features: Biking, Dog Park, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 2504 S Budlong Ave

Last sold for $665,000 on June 14th, 2023

  • July, 2024

  • Jul 24, 2024

    Date

    Active

    CRMLS: SB24149982

    $1,195,000

    Price

  • June, 2023

  • Jun 14, 2023

    Date

    Sold

    CRMLS: SR23035487

    $665,000

    Price

  • Mar 9, 2023

    Date

    Active

    CRMLS: SR23035487

    $1,265,000

    Price

  • Listing provided courtesy of CRMLS

    This property is located 5 minutes away from USC. The property consists of a 4-unit building in the front and a single unit in the back. The front 4-unit is a two story building with two 2b/1b upstairs and a two 1b/1b downstairs, each unit is approx. 998sqft. The unit in the back of the property is a approx. 360sqft 1bed/1bath. It was built in 1921 and both buildings renovated in 1971.

  • June, 2005

  • Jun 2, 2005

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • January, 1997

  • Jan 15, 1997

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2504 S Budlong Ave

Assessed Value (2020): $50,384
Year Land Value Improved Value Assessed Value
2020 $27,220 $23,164 $50,384

Home Value Compared to the Market

This property vs the competition

2504 S Budlong Ave is listed 4.17% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $257.85 per/sqft which puts the price per square foot 66.43% lower than the median price per square foot for the city of Los Angeles.

About 2504 S Budlong Ave

Detailed summary of property

2504 S Budlong Ave is a mixed use located in Los Angeles, CA 90007 and is currently for sale. This mixed use property offers 8 bedrooms, 5 bathrooms, roughly 4,460 living square feet, and sits on an approximately 6,752 square foot lot. 2504 S Budlong Ave was first listed on ArdentRealEstateGroup.com on July 22, 2024. The homeowner is currently asking $1,150,000 and was originally asking $1,195,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 4.17% lower than the median priced home. Local competing homes currently for sale include 717 N Highland Ave #26, 2007 Pennsylvania Ave and 2015 Pennsylvania Ave. While the average home in Los Angeles, CA is selling in 106 days, 2504 S Budlong Ave has a days on market of 53 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 2504 S Budlong Ave Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2504 S Budlong Ave

Public county record property details
Beds
4
Baths
5
Year built
1921
Sq. Ft.
4,460
Lot Size
6,749
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
5054-020-003

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,495,000
Median List Price/Sq.Ft.
$610
Median Sold Price
$1,025,000
Median Sold Price/Sq.Ft.
$777
Total Inventory
16
Median Sale to List Price %
100%
Avg Days on Market
0
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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