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Multifamily

3615 S Budlong Ave

3615 S Budlong Ave, Los Angeles, CA 90007

Listing Price: $1,890,000

Cap Rate
2.22%
Number of Units
8
Price/Unit
$236,250
Price/Gross SF
$272.49
Gross SF
6,936

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1245 West 36th Place & 3615 South Budlong Avenue, an eight-unit property located adjacent to the University of Southern California. As USC’s enrollment has grown steadily since 2008, there is an ever-increasing demand for student housing. The growth of the student base continues to outpace the growth of housing and will provide continuous demand for quality housing in premium locations. The 36th Place & Budlong properties provide investors the opportunity to acquire a true value-add asset in one of the most desirable infill student housing markets in the United States. Additionally, while the buildings have been well maintained under current ownership, they are well suited for common area upgrades and interior unit upgrades that will substantially raise rental rates.

Investment Highlights

  • Rents are Approximately 140% Below Market. Investors Will be Able to Capture Meaningful Upside in Rental Income Through Interior and Exterior Renovations.
  • Located in the DPS Patrol Zone and Walking Distance to the USC Campus and The Village.
  • First Time on the Market in Over 50 Years – a True Generational Asset
  • Large One-Bedroom Units Appear to be a Prime Candidate to Convert to Two-Bedrooms and Increase the Bedroom Count to Further Raise Rents (Buyer to Verif y)
  • Overall, Student Housing Properties Have Shown Resilience During Recession for Investors Seeking Downside Protection

Exclusively Listed By

Financing By

Listing Price: $1,890,000

Cap Rate
2.22%
Number of Units
8
Price/Unit
$236,250
Price/Gross SF
$272.49
Gross SF
6,936

Investment Highlights

  • Rents are Approximately 140% Below Market. Investors Will be Able to Capture Meaningful Upside in Rental Income Through Interior and Exterior Renovations.
  • Located in the DPS Patrol Zone and Walking Distance to the USC Campus and The Village.
  • First Time on the Market in Over 50 Years – a True Generational Asset
  • Large One-Bedroom Units Appear to be a Prime Candidate to Convert to Two-Bedrooms and Increase the Bedroom Count to Further Raise Rents (Buyer to Verif y)
  • Overall, Student Housing Properties Have Shown Resilience During Recession for Investors Seeking Downside Protection

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 1245 West 36th Place & 3615 South Budlong Avenue, an eight-unit property located adjacent to the University of Southern California. As USC’s enrollment has grown steadily since 2008, there is an ever-increasing demand for student housing. The growth of the student base continues to outpace the growth of housing and will provide continuous demand for quality housing in premium locations. The 36th Place & Budlong properties provide investors the opportunity to acquire a true value-add asset in one of the most desirable infill student housing markets in the United States. Additionally, while the buildings have been well maintained under current ownership, they are well suited for common area upgrades and interior unit upgrades that will substantially raise rental rates.

Exclusively Listed By

Financing By

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