2639 S Budlong Ave
Adams Normandie, Los Angeles, CA 90007
Adams Normandie, Los Angeles, CA 90007
$2,274,000
- 14
- beds
- Multi Family Townhouse
AGENTS
Bachir OueidaEmail Me
V-Card
- Licensed Real Estate Salesperson
- DRE #: 00936311
O: 310.595.3888
M: 310.722.7727
Source of Data:
Combined Los Angeles/Westside MLS
Property Description
Excellent cash-flowing Student Housing investment grossing $180,078 in rent annually. Actual current Cap Rate at a stunning 6.89%. The property is in a prime location for USC student housing located in the USC DPS Safety Patrol zone and walking distance to Ralph's and USC. Both units are under a Master Lease to a USC student management company until August 2024, with no vacancies. The rear ADU was constructed in 2020. All utilities are covered by tenants. Both units total approximately 4187 square feet of rentable space with an additional 550 square feet of loft space. Front unit has solar panels that are paid in full. The properties sit on a huge 8099 sq ft lot that is rare to find in the 90007 zip code and has LARD1.5 zoning (potentially build 5 units by right) and HPOZ. Buyer to verify all information with city. Property is fully occupied by students - do not disturb tenants. Disturbing tenants will disqualify buyer. Investment property is to be sold As-Is, cash offers preferred.
PROPERTY DETAILS
- Interior
- 4,187 Sq Ft.
- Exterior
- .19 Acres
- Property Type
- Multi Family Townhouse
- Year Built
- 1905
- MLS/Listing ID
- 22-220757
- Days On Market
- 192
Listing Courtesy of D. Wahl Realty, Mason Shieh - 02020101 - 808-551-5272
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