1043 Island Avenue, Wilmington CA, 90744

Sold

1043 Island Avenue

Wilmington CA, 90744

$765,000

$349.00 per sqft

Sold

4 Beds

4 Baths

2,192 sqft

Residential

Built in 1923

Listed by John Katnik with BRC Advisors- BH

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.

23245365

MLSⓇ ID

February 27, 2023

Listed

March 23, 2024

Updated

Map

1043 Island Avenue
Wilmington CA, 90744

Interior Features

Total Stories: 1
Bedrooms: 4 Beds
Bathrooms: 4 Baths
Fireplace: No
Cooling: No
Cooling Description: None
Heating: No

Exterior/Building Features

Lot Size: 0.16 Acres

Other Property Details

Area Name: 195 - West Wilmington
Days on Market: 35
Garage: No
Parking: Uncovered
Parking Total: 3
View: No
County: Los Angeles
Pool: No
Pool Features: None
Zoning: LARD2
Buyer Agency Compensation: 2.5%

Listing History

Date	Event	Price
5/18/2023	Sold	$765,000
4/28/2023	Price Change	$765,000 -2%
4/28/2023	Unknown	—
4/24/2023	Pending	—

Listing Contact:

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/23/2024 at 1:24 AM UTC