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3023 S Budlong Ave, Los Angeles, CA 90007
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3023 S Budlong Ave Los Angeles, CA 90007

$2,425,000
  • 16 Beds
  • 11 Baths
  • 4,680 Sq.Ft.
For Sale
$2,425,000 Get Pre-Qualified
Map preview of 3023 S Budlong Ave, Los Angeles, CA 90007

Property Overview: 3023 S Budlong Ave Los Angeles, CA has 16 bedrooms, 11 bathrooms, 4,680 living square feet and 6,711 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: USC Student housing investment opportunity! 6.5% CAP rate and 11.78 GRM! All current tenants are students at USC! Property is located within short walking distance to the University of Southern California. The property is located within the USC Department of Public Safety Patrol Zone and the USC Lyft Ride Safe program. The property has a total of 16 Bedrooms and 11 Bathrooms in 4 separate units. One - 5 Bed+4 Bath unit, two - 4 bed+3 bath units, and one - 3 Bed+1 Bath unit. The building is 4,680 Sq. Ft. and sits on a 6,708 Sq. Ft. lot zoned LAR2. There are 6 on-site parking spaces. Potential to add ADU on the lot. *Buyer to verify all information* Please do not disturb tenants, drive by only.

Listed by Michael R. Fukushima | BRE #01380445 | Keller Williams Downtown LA
Co-listed by Stephen F. Watson | BRE #01187813 | Keller Williams Downtown LA
Last checked: 4 minutes ago | Last updated: May 9th, 2024 | Source CRMLS | DOM: 62
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Home details

Lot Sq. Ft
6,711
HOA Dues
$0/mo
Year built
1913
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24367617
City
Los Angeles
County
Los Angeles
Time on Site
62 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 5
  • # of Baths: 4
  • Furnishing: Unfurnished
  • Actual Rent: $5,400
  • Total Rent: $5,400
  • Pro Forma/Market Rent: $6,250
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 4
  • # of Baths: 3
  • Furnishing: Unfurnished
  • Actual Rent: $4,350
  • Total Rent: $8,700
  • Pro Forma/Market Rent: $9,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,050
  • Total Rent: $3,050
  • Pro Forma/Market Rent: $3,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.5%
  • Gross Rent Multiplier: 11.78
  • Gross Scheduled Income: --
  • Net Operating Income: $158,480
  • Gross Operating Income: $207,000
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 3023 S Budlong Ave

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Property Details for 3023 S Budlong Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Community Structure, Controlled Entrance, Driveway, Uncovered
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 4
  • Parcel Number: 5040023022
  • Property Condition: Updated/Remodeled, Additions/Alterations
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Other
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Property is near the University of Southern California. Property is located along S Budlong Ave. near the intersection of Jefferson Blvd. and Budlong Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 3023 S Budlong Ave

Last sold on November 27th, 2018

  • March, 2024

  • Mar 11, 2024

    Date

    Active

    CRMLS: 24367617

    $2,575,000

    Price

  • November, 2018

  • Nov 27, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • October, 2017

  • Oct 9, 2017

    Date

    Sold

    CRMLS: 17249056

    $1,476,000

    Price

  • Aug 16, 2017

    Date

    Active Under Contract

    CRMLS: 17249056

    $1,525,000

    Price

  • Aug 4, 2017

    Date

    Active

    CRMLS: 17249056

    $1,525,000

    Price

  • Jul 10, 2017

    Date

    Withdrawn

    CRMLS: 17249056

    $1,525,000

    Price

  • Jul 7, 2017

    Date

    Active

    CRMLS: 17249056

    $1,525,000

    Price

  • Listing provided courtesy of CRMLS

    This property must be sold as part of a portfolio with another property situated at 2412 5th Avenue, Los Angeles, California 90018. We are pleased to present a four unit multi-family property located in Los Angeles, California. This fourplex is currently occupied entirely by USC students and serves as student housing. The property is within conveniently walking distance of both USC's campus.Built in 1924, this investment consists of a streamlined unit mix of (4) 3 bedroom / 1 bathroom units that is ideal for student housing. This property offers potential investors reliable and increasing rents unusual for a rent controlled building in Los Angeles County due to the high tenant turnover rate associated with students.

  • August, 2010

  • Aug 30, 2010

    Date

    Sold (Public Records)

    Public Records

    $650,000

    Price

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Tax History for 3023 S Budlong Ave

Assessed Value (2020): $1,535,630
Year Land Value Improved Value Assessed Value
2020 $921,378 $614,252 $1,535,630

Home Value Compared to the Market

This property vs the competition

3023 S Budlong Ave is listed 94.16% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $518.16 per/sqft which puts the price per square foot 33.05% lower than the median price per square foot for the city of Los Angeles.

About 3023 S Budlong Ave

Detailed summary of property

3023 S Budlong Ave is a multi family located in Los Angeles, CA 90007 and is currently for sale. This multi family property offers 16 bedrooms, 11 bathrooms, roughly 4,680 living square feet, and sits on an approximately 6,711 square foot lot. 3023 S Budlong Ave was first listed on ArdentRealEstateGroup.com on March 12, 2024. The homeowner is currently asking $2,425,000 and was originally asking $2,575,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 94.16% higher than the median priced home. Local competing homes currently for sale include 4177 S Normandie Ave, 1417 S Bonnie Brae St and 1142 S Mariposa Ave. While the average home in Los Angeles, CA is selling in 93 days, 3023 S Budlong Ave has a days on market of 62 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 3023 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 3023 S Budlong Ave

Public county record property details
Beds
4
Baths
4
Year built
1913
Sq. Ft.
4,680
Lot Size
6,708
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
20
APN
5040-023-022

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
$1,199,999
Median List Price/Sq.Ft.
$616
Median Sold Price
$710,000
Median Sold Price/Sq.Ft.
$645
Total Inventory
13
Median Sale to List Price %
94.79%
Avg Days on Market
63
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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