This is quite explicit in Bousfield's paper, namely as Proposition 2.4, and I'd argue that it is about as handy as it gets. All important basic facts about $p$-localization are essentially summed up in the statement of that proposition. Alternatively, Tyler Lawson's "An Introduction to Bousfield Localization" might be a little friendlier as a reference, at the cost of being somewhat wordier and wider in scope. It discusses $p$-localization in section 8.
Anyway, it does not take much effort to sum up the situation: $p$-localization (or localization at $(p)$) is localization at the Moore spectrum $M\mathbb{Z}_{(p)} = \mathbb{S}_{(p)}$ where
$$
\mathbb{S}_{(p)} := \operatorname{hocolim}\Bigl(\mathbb{S} \xrightarrow{\cdot p_1} \mathbb{S} \xrightarrow{\cdot p_1 p_2} \mathbb{S} \xrightarrow{\cdot p_1 p_2 p_3} \cdots\Bigr)
$$
for $P = \{p_i \mid i \in \mathbb{N}_{\geq 0}\}$ an enumeration of all primes except $p$. This is a smashing localization, so for any spectrum $X$ we have
$$
L_{M\mathbb{Z}_{(p)}} X \simeq X \wedge \mathbb{S}_{(p)}
$$
which in turn gives
$$
L_{M\mathbb{Z}_{(p)}} X \simeq \operatorname{hocolim}\Bigl(X \xrightarrow{\cdot p_1} X \xrightarrow{\cdot p_1 p_2} X \xrightarrow{\cdot p_1 p_2 p_3} \cdots\Bigr)
$$
since smash products commute with homotopy colimits. Noting that
$$
\mathbb{Z}_{(p)} \cong \operatorname{colim}\Bigl(\mathbb{Z} \xrightarrow{\cdot p_1} \mathbb{Z} \xrightarrow{\cdot p_1 p_2} \mathbb{Z} \xrightarrow{\cdot p_1 p_2 p_3} \cdots\Bigr)
$$
and consequently that
$$
G_{(p)} \cong G \otimes \mathbb{Z}_{(p)} \cong \operatorname{colim}\Bigl(G \xrightarrow{\cdot p_1} G \xrightarrow{\cdot p_1 p_2} G \xrightarrow{\cdot p_1 p_2 p_3} \cdots\Bigr)
$$
for any abelian group $G$, we obtain that the homotopy groups of a $p$-local spectrum are $p$-local abelian groups after noting that homotopy groups commute with filtered colimits. In fact, the converse is also true: A spectrum $X$ is $p$-local if and only if $\pi_n X$ is $p$-local for all $n$, which is extremely useful as a criterion for detecting $p$-locality.