Wilmington, CA 90744,916 Watson Avenue
Wilmington, CA 90744,916 Watson Avenue
Wilmington, CA 90744,916 Watson Avenue
$2,100,000
Est. payment /mo
$2,169,000
3.2%
Est.Price: ?

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1 Bed
4 Baths
6,802 Sqft Lot
SOLD DATE : 04/27/2022

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

Kobe Zimmerman

Berkshire Hathaway Home Services California Properties

+1(858) 753-3353

Our team is ready to help you sell your home for the highest possible price ASAP


San Diego Regional MLS (SDMLS)
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
Bought with Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
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+1(858) 753-3353

kobezimmerman@bhhscalifornia.com

955 Orange Ave, Coronado, CA, 92118

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