Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

10

Building size

4,980 sqft

Lot size

8,195 sqft

Year built

1923

Stories

1

Garage spaces

0

Pool

None

Status

Active

Days on market

0

MLS #

247594406

About this property

Well-maintained 10-unit courtyard-style apartment complex consisting of six studios and four one-bedroom units in two side-by-side buildings on an 8,192 SF lot. This charming gated property is located in a quiet residential neighborhood and one of Wilmington’s more desirable rental pockets. Offered at an attractive 9.7 GRM & 6.5% Cap Rate on CURRENT income, the property provides stable in-place cash flow with significant upside in rents. Additional Income Includes Capital Improvements Surcharge, Laundry, and Storage Income. >>The property has been meticulously maintained with ongoing upgrades, including copper plumbing and updated electrical. Units are separately metered for gas and electricity, the property offers on-site laundry, and tenants pay their own trash expenses, helping keep operating costs low. <<Conveniently located near the 110 Freeway and the Ports of Los Angeles and Long Beach. Major ongoing investment and development throughout the port area is creating jobs, improving infrastructure, and positively impacting demand and property values in Wilmington. The nearly completed new construction next door further improves the immediate surroundings and adds to the property’s long-term appeal.***SEE SUPPLEMENTS FOR OM***

Location

324 W Opp

Wilmington, Los Angeles, CA, 90744