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Key Details
Sold Price $785,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24030389
Sold Date 03/21/24
Bedrooms 4
HOA Y/N No
Lot Size 6,699 Sqft
Property Description
We are pleased to present this 4 unit apartment community located in the heart of Wilmington. The offering consists of (4) 1 Bed / 1 Bath units. Each apartment unit includes a washer/dryer hookup and brand new water heaters as of Feb 2024. In total, the buildings sit on a 6,697 sq ft lot and feature 4 single car garages. Tenants pay for electricity and gas. There is ONE water meter and 4 electrical panels and 4 gas meters. There is rental upside potential to a 8.71% Pro-Forma Cap Rate & 8.10 Pro-Forma GRM. There is a 648 sq ft garage in the back with RTI plans for (2) ADUs consisting of 1+1. Plans are fully approved and are ready for construction! This could ultimately be converted into a 6 unit apartment building. Property can be financed through a residential loan.
We are pleased to present this 4 unit apartment community located in the heart of Wilmington. The offering consists of (4) 1 Bed / 1 Bath units. Each apartment unit includes a washer/dryer hookup and brand new water heaters as of Feb 2024. In total, the buildings sit on a 6,697 sq ft lot and feature 4 single car garages. Tenants pay for electricity and gas. There is ONE water meter and 4 electrical panels and 4 gas meters. There is rental upside potential to a 8.71% Pro-Forma Cap Rate & 8.10 Pro-Forma GRM. There is a 648 sq ft garage in the back with RTI plans for (2) ADUs consisting of 1+1. Plans are fully approved and are ready for construction! This could ultimately be converted into a 6 unit apartment building. Property can be financed through a residential loan.
Location
State CA
County Los Angeles
Area Wilmington (90744)
Zoning Assessor
Building
Lot Description Sidewalks
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Monthly Total Fees $42
Acceptable Financing Cash, Conventional, Exchange, Land Contract
Space Rent $942
Listing Terms Cash, Conventional, Exchange, Land Contract
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 Mirian Duenas • Four Points Realty