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$ 2,800,000
Est. payment /mo
Active
11718 S Budlong Avenue Los Angeles, CA 90044
8,128 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,128 sqft
Price per Sqft $344
MLS Listing ID CL26964937
HOA Y/N No
Year Built 1955
Lot Size 0.292 Acres
Acres 0.2918
Property Sub-Type Other
Property Description
This property is part of a rare opportunity to acquire a 4 building, 52-unit portfolio in South Los Angeles. This property is a very well-kept, updated and professionally managed 16-unit asset with all large & open 1 Bed/1 Bath units that has on-site parking for tenants. Low operating expenses as tenants pay for gas, electricity and trash. 5 units have just finished remodels and are now on the rental market and market rent ready. The location is family friendly for tenants being walking distance to Vista Point Community Park & Chester Washington Golf Course, and very mobile being just blocks to/from the 105 freeway and minutes to/from the 110 freeway. The portfolio purchase features an in-place 8.76x GRM and 7.56% cap rate, and all properties are late 1950's construction assets with parking for tenants, and a unit mix of (36) 1 Bed/1 Bath & (16) 2 Bed/1 Bath units -- NO studios, bachelors or singles! This property is located two doors away from two of the portfolio assets which provides a rare opportunity of large lot assemblage.
Location
State CA
County Los Angeles
Zoning LCR320U*
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 6079018042
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Listed by Jonathan Rawson • Avenue Realty Group