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Additional details
$ 2,850,000
Est. payment /mo
Price Dropped by $100K
724 N Wilmington Wilmington, CA 90744
2 Beds
1 Bath
0.31 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26175414
Bedrooms 2
Lot Size 0.310 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
The Mogharebi Group is pleased to present the opportunity to acquire a 16-unit apartment community located at 720 North Wilmington Boulevard in the City of Wilmington, California. Situated on a 13,398 square foot lot, the property consists of two two-story residential buildings totaling approximately 10,488 square feet and features an attractive unit mix of sixteen two-bedroom, one-bathroom apartments. The Current capitalization rate is 5.10% at asking price and the Market capitalization rate exceeds 8%. The property offers investors the opportunity to acquire a well-located workforce housing asset in one of Los Angeles County's strongest rental markets. All units are individually metered for gas and electricity, significantly reducing owner operating expenses, while tenants benefit from convenient on-site parking and landscaped courtyard areas. Every apartment is a desirable two-bedroom floor plan featuring vinyl flooring and carpet in the living areas, Formica countertops, gas wall heating, range/oven, refrigerator, hood fan, and garbage disposal. The property includes sixteen surface parking spaces, central gas water heating, and attractive landscaped common areas. Located just minutes from the Port of Los Angeles, Interstate 110, SR-47, and numerous major employment centers throughout the South Bay and Harbor region, the property benefits from consistent tenant demand driven by port-related employment, logistics, manufacturing, healthcare, and transportation industries. The central location also provides convenient access to Downtown Long Beach, San Pedro, Carson, and T
Location
State CA
County Los Angeles
Zoning Assessor
Direction Harbor Freeway to Anaheim Street east to Wilmington Blvd right turn
Interior
Fireplace No
Exterior
Utilities Available Sewer Connected
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7416016007
Acceptable Financing Cash
Listing Terms Cash
Listed by Mike Marcu, DRE#00919594 Mike Marcu, Broker
NEARBY SCHOOL & BUSINESS
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