$600,000
$625,000
4.0%For more information regarding the value of a property, please contact us for a free consultation.
1147 N Marine AVE Wilmington, CA 90744
4 Beds
4 Baths
2,400 SqFt
Key Details
Sold Price $600,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $250
MLS Listing ID 23245328
Sold Date 03/29/23
Bedrooms 4
Construction Status Fixer
HOA Y/N No
Year Built 1923
Lot Size 6,695 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. Each apartment unit includes a washer/dryer hookup. In total, the buildings sit on a 6,697 sq ft lot and feature 4 single car garages. Offered at $156k/unit and $260/ft, 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 4.77% Cap Rate & 13.94 GRM. There is rental upside potential to a 10.85% Pro-Forma Cap Rate & 7.44 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 LAR1
Interior
Cooling None
Fireplace No
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
View Y/N No
View None
Accessibility None
Total Parking Spaces 4
Private Pool No
Building
Story 1
New Construction No
Construction Status Fixer
Others
Senior Community No
Tax ID 7420020018
Special Listing Condition Standard
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Bought with John Katnik • BRC Advisors- BH