1042 N Avalon Blvd, Wilmington, CA 90744
- $700,000
- 4
- BD
- 4
- BA
- 3,660
- SqFt
- Sold Price
- $700,000
- List Price
- $750,000
- Closing Date
- May 24, 2023
- MLS#
- 23-245387
- Status
- SOLD
- Type
- Multifamily
- Bedrooms
- 4
- Bathrooms
- 4
- Living Area
- 3,660
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.
Additional Information
- Year Built
- 1926
- Garage
- Garage - 4+ Car, Uncovered
Mortgage Calculator
Courtesy of BRC Advisors- BH, John Katnik. Selling Office: .
The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS)is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identifyprospective properties visitor may be interested in purchasing.Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX)program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than thebroker and/or agent who owns this web site.The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, isdeemed reliable but not guaranteed and should be personally verified through personal inspection by and/or withthe appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS,DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any disseminationof this information is in violation of copyright laws and is strictly prohibited.CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprisedof CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS),CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (VenturaCounty Regional Data Share).