We are pleased to offer for sale this ten (10) unit, Student Housing investment opportunity located at 2922 S. Budlong Avenue, just a short distance from the internationally renowned University of Southern California (USC). This two-story building, was constructed of wood frame and stucco on a raised foundation built in 1964 with a square footage of 7,923 on a 8,749-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of five (5) 1+1 units, and five (5) 2+1 units. The owner has approved plans & permits to convert the property into 26-bedrooms + 23-bathrooms. The subject property is 80% occupied, and is subject to the City of Los Angeles rent control regulation.The current income for the property is about $11,000/ month, and the proforma gross income is about $31,200/month ($1,200/bedroom).
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
