Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE
Wilmington, CA 90744,1043 Island AVE
See all 5 photos

$765,000

$775,000

1.3%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

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

Read Less Info

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


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

Real Estate Consultant | License ID: 01971542

+1(562) 595-3264 | karen@iwakoshirealtor.com

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.