903 Lakme Avenue, Wilmington CA, 90744

Sold

903 Lakme Avenue

Wilmington CA, 90744

$1,450,000

$282.10 per sqft

Sold

25 Beds

4 Baths

5,140 sqft

Residential

Built in 1923

Listed by John Katnik with BRC Advisors- BH

We are pleased to present this 24 unit SRO (Single Room Occupancy) located in the heart of Wilmington. The offering consists of 23 SRO units that include a private sink and 1 - 2 bedroom / 1 bathroom manager's apartment unit. All units are currently occupied on month to month terms at under market rents. In total, the building sits on a 8,636 sq ft lot and features 13 open parking spaces. Offered at $58k/bedroom and $282/ft, 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 6.85% Cap Rate & 7.88 GRM. There is rental upside potential to a 9.20% Pro-Forma Cap Rate & 6.47 Pro-Forma GRM. This property is a part of a 8 building portfolio in Wilmington. 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.

23249057

MLSⓇ ID

March 8, 2023

Listed

March 23, 2024

Updated

Map

903 Lakme Avenue
Wilmington CA, 90744

Interior Features

Total Stories: 2
Bedrooms: 25 Beds
Bathrooms: 4 Baths
Laundry Description: None
Fireplace: Yes
Fireplace Description: None
Cooling: No
Cooling Description: None
Heating: Yes
Heating Description: Central

Exterior/Building Features

Lot Size: 0.2 Acres

Other Property Details

Area Name: 196 - East Wilmington
Days on Market: 19
Garage: No
Parking: Unassigned, Uncovered
Parking Total: 13
View: No
County: Los Angeles
Pool: No
Pool Features: None
Zoning: LAR3
Buyer Agency Compensation: 2.5%

Listing History

Date	Event	Price
5/18/2023	Sold	$1,450,000

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 1:29 AM UTC