Wilmington, CA 90744,1043 Island AVE
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Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE

$765,000

Est. payment /mo

$775,000

1.3%
Est.Price: ?

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1043 Island AVE Wilmington, CA 90744

4 Beds

4 Baths

2,192 SqFt

SOLD DATE : 04/28/2023

Key Details

Sold Price $765,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,192 sqft

Price per Sqft $348

MLS Listing ID 23245365

Sold Date 04/28/23

Bedrooms 4

Construction Status Fixer

HOA Y/N No

Year Built 1923

Lot Size 7,108 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. One unit will be delivered vacant at close of escrow allowing for an ideal owner-user opportunity. Two units includes washer/dryer hookups. In total, the buildings sit on a 7,111 sq ft lot and feature 3 open parking spaces. Offered at $193k/unit, 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 4.69% Cap Rate & 13.21 GRM. There is rental upside potential to a 7.55% Pro-Forma Cap Rate & 9.50 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 LARD2

Interior

Cooling None

Fireplace No

Exterior

Parking Features Uncovered

Pool None

Total Parking Spaces 3

Private Pool No

Building

Story 1

New Construction No

Construction Status Fixer

Others

Senior Community No

Tax ID 7420025010

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by John Katnik • BRC Advisors- BH
Bought with Alan Cruz • Trans United R.E. & Loans

John Vogel

Real Estate Advisor | License ID: DRE 01445571

+1(760) 712-2437

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