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1043 Island AVE Wilmington, CA 90744
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Key Details
Sold Price $765,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,192 sqft
Price per Sqft $348
MLS Listing ID 23245365
Sold Date 04/28/23
Bedrooms 4
Construction Status Fixer
HOA Y/N No
Year Built 1923
Lot Size 7,108 Sqft
Property Description
We are pleased to present this 4 unit apartment community located in the heart of Wilmington. The offering consists of four 1 bedroom units. One unit will be delivered vacant at close of escrow allowing for an ideal owner-user opportunity. Two units includes washer/dryer hookups. In total, the buildings sit on a 7,111 sq ft lot and feature 3 open parking spaces. Offered at $193k/unit, this opportunity allows an astute investor to add value to the property as tenants turnover. The property has strong day 1 income operating at a 4.69% Cap Rate & 13.21 GRM. There is rental upside potential to a 7.55% Pro-Forma Cap Rate & 9.50 Pro-Forma GRM. This property is a part of a 8 building portfolio ranging from apartments, commercial, mixed use and a hotel. Each property in the portfolio is being offered individually or can be bought together! Each building in the portfolio is less than a mile away from each other and most are within a few blocks of each other.
Location
State CA
County Los Angeles
Area 195 - West Wilmington
Zoning LARD2
Interior
Cooling None
Fireplace No
Exterior
Garage Uncovered
Pool None
Total Parking Spaces 3
Private Pool No
Building
Story 1
New Construction No
Construction Status Fixer
Others
Senior Community No
Tax ID 7420025010
Special Listing Condition Standard
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Bought with Alan Cruz • Trans United R.E. & Loans