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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.
Property Type(s):
Residential Income
| Last Updated | 4/1/2025 | Year Built | 1921 |
|---|---|---|---|
| Community | Mid Los Angeles | County | Los Angeles |
Price History
| Prior to Apr 1, '25 | $1,100,000 |
|---|---|
| Apr 1, '25 - Today | $1,050,000 |
Additional Details
| AREA | Mid Los Angeles |
|---|---|
| GARAGE | Driveway |
| HEAT | Wall Furnace |
| LOT | 6752 sq ft |
| PARKING | Driveway |
| STORIES | 2 |
| ZONING | LAR2 |
Location
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Listed with Lyon Stahl Investment Real Estate, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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