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Key Details
Sold Price $2,100,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB22005862
Sold Date 04/27/22
Bedrooms 1
HOA Y/N No
Lot Size 6,802 Sqft
Property Description
14 Units located near the port of Los Angeles, 916 Watson Ave is partially remodeled with plenty of upside for an investor looking to increase the value. This cash flowing apartment building is located in the 90744 zip code near the new Harbor redevelopment project and is offered at only $154k per unit. The property is currently operating at an above market cap rate of 4.87% and 12.81 GRM. 916 Watson Ave is the ideal opportunity for any investor looking for strong cash flow with room to grow the monthly income by over 20%. An ideal unit mix for the 2022 renter as it consists of (4) 1-Bed/1-Bath and (10) Studio/1-Bath units. Some units have been remodeled, including new floors, cabinets and windows. The property sits on a 6,802 SqFt lot and has 4,620 SqFt of rentable space. With the Harbor development project, the draw from the port of Los Angeles, and being located in one of the most densely populated markets in the county, 916 Watson is ideally positioned for long term upside and is a great purchase for current cash-flow.
14 Units located near the port of Los Angeles, 916 Watson Ave is partially remodeled with plenty of upside for an investor looking to increase the value. This cash flowing apartment building is located in the 90744 zip code near the new Harbor redevelopment project and is offered at only $154k per unit. The property is currently operating at an above market cap rate of 4.87% and 12.81 GRM. 916 Watson Ave is the ideal opportunity for any investor looking for strong cash flow with room to grow the monthly income by over 20%. An ideal unit mix for the 2022 renter as it consists of (4) 1-Bed/1-Bath and (10) Studio/1-Bath units. Some units have been remodeled, including new floors, cabinets and windows. The property sits on a 6,802 SqFt lot and has 4,620 SqFt of rentable space. With the Harbor development project, the draw from the port of Los Angeles, and being located in one of the most densely populated markets in the county, 916 Watson is ideally positioned for long term upside and is a great purchase for current cash-flow.
Location
State CA
County Los Angeles
Area Wilmington (90744)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Conventional
Space Rent $1,250
Listing Terms Conventional
Financing Conventional
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Kobe Zimmerman
Berkshire Hathaway Home Services California Properties
kobezimmerman@bhhscalifornia.com +1(858) 753-3353Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.