Est. cap rate

2.8%

Assumed rent, all units

$3,880/mo

Units

2

Price per unit

$409,500

Est. annual NOI

$23,280

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Duplex

Bedrooms

2

Building size

2,006 sqft

Lot size

6,207 sqft

Year built

1922

Stories

1

Garage spaces

2

Style

Craftsman,Bungalow

Heating

Wall Furnace

Pool

None

View

Neighborhood

Status

Active

Days on market

59

MLS #

246158369

About this property

RARE FINANCING OPPORTUNITY: Assumable 3.50% Conventional Mortgage! Located within walking distance of the Wilmington Waterfront Park, this property features two homes on an oversized lot, making it ideal for either an owner-occupant seeking rental income or an investor looking for strong returns. The Front House (614 Gulf Ave) features 2 bedrooms, 1 bathroom, a fenced front yard, a covered porch, and a detached one-car garage with an indoor laundry area. The Back House (616 Gulf Ave) is nicely upgraded with 3 bedrooms and 2 bathrooms. It includes tile and laminate flooring, recessed lighting, ceiling fans, and a spacious living room. The kitchen features granite countertops and cherry-finished cabinets, and the indoor laundry area accommodates a full-sized washer and dryer. Additionally, both homes include a private yard area and an extra parking pad outside of each one-car garage. The property is conveniently located near parks, freeway access, shopping, and local eateries.

Location

614 Gulf

Wilmington, Los Angeles, CA, 90744