Wilmington, CA 90744,1042 N Avalon BLVD
Wilmington, CA 90744,1042 N Avalon BLVD
Wilmington, CA 90744,1042 N Avalon BLVD
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$700,000

$750,000

6.7%
Est.Price: ?

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Est. payment /mo

4 Beds

4 Baths

3,660 SqFt


SOLD DATE : 05/24/2023

Key Details

Sold Price $700,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,660 sqft

Price per Sqft $191

MLS Listing ID 23245387

Sold Date 05/24/23

Bedrooms 4

HOA Y/N No

Year Built 1926

Lot Size 10,010 Sqft

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.

Location

State CA

County Los Angeles

Area 196 - East Wilmington

Zoning LAC2

Interior

Cooling None

Fireplace No

Exterior

Parking Features Uncovered

Pool None

Total Parking Spaces 12

Private Pool No

Building

Story 2

New Construction No

Others

Senior Community No

Tax ID 7423006003

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by John Katnik • BRC Advisors- BH
Bought with John Katnik • BRC Advisors- BH
agent
Karen Iwakoshi

Real Estate Consultant | License ID: 01971542

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

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