2506 S Budlong Avenue

Description

2506 S Budlong Ave is a charming 5-unit apartment building located in Jefferson Park, just steps from the USC Patrol Zone. Built in the early 1920s, this well-maintained property consists of (3) two-bedroom / one-bathroom units and (2) one-bedroom / one-bathroom units. The top floor of the front structure consists of only two-bedroom / one-bath units while the bottom floor is split between a renovated two-bedroom / one-bathroom unit on the left, and a one-bedroom / one-bathroom unit on the right. The back structure is a fully renovated detached 1-bedroom / 1-bathroom house. The property is fully occupied and presents investors with immediate operating cash flow with the potential to increase the gross income by 62%. The property also includes three unused parking spaces, which could generate additional income, and offers significant ADU potential, with the ability to develop up to four ADUs in the rear or immediately add a Tiny Home ADU (buyer to verify).The property has recently undergone major improvements, including a new roof on the rear structure and a repaired roof on the main building. It also features updated gas and sewer lines, ensuring minimal maintenance for a new owner. Once fully stabilized, the property will operate at a 7.28 GRM and 10.52% Cap Rate. Loaded in a highly walkable neighborhood and a 5-minute drive to USC, this property offers easy access to Downtown Culver City, Downtown LA, and the major freeways (10, 205, and 110). This is an excellent opportunity to acquire a cash-flowing asset with multiple value-add avenues, including ADU potential, parking income, and significant rental upside.