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Key Details
Sold Price $700,000
Property Type Other Types
Sub Type OTHER
Listing Status Sold
Purchase Type For Sale
Square Footage 3,660 sqft
Price per Sqft $191
MLS Listing ID CL23245387
Sold Date 05/24/23
Bedrooms 4
HOA Y/N No
Year Built 1926
Lot Size 10,008 Sqft
Acres 0.23
Property Description
$75,000 PRICE REDUCTION! Over a 5.50% Cap Rate Day 1 with huge rental upside! We are pleased to present this 3 unit apartment + 1 dental office mixed use opportunity located in the heart of Wilmington. The offering consists of three 1 bedroom units and one dental office. Each apartment unit includes a washer/dryer hookup. In total, the building sits on a 10,008 sq ft lot and features 4 single car garages and 8 open parking spaces. Offered at $204/ft, this opportunity allows an astute investor to add value to the property as tenants turnover and potentially execute on adding ADUs to the site (buyer to verify). The property has strong day 1 income operating at a 5.51% Cap Rate & 13.32 GRM. There is rental upside potential to a 9.06% Pro-Forma Cap Rate & 8.99 Pro-Forma GRM.
Location
State CA
County Los Angeles
Area East Wilmington
Zoning LAC2
Interior
Cooling No Air Conditioning
Fireplace No
Exterior
Total Parking Spaces 12
Building
New Construction No
Others
Tax ID 7423006003
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© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Bought with JohnKatnik