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1042 N Avalon Blvd, Wilmington, CA 90744
$700,000
1042 N Avalon Blvd, Wilmington, CA 90744View this property at 1042 N Avalon Blvd, Wilmington, CA 90744
1042 N Avalon BlvdWilmingtonCA90744
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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.
Full Property Details
Full Property Details for 1042 N Avalon Blvd
General
- Sold For: $700,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-245387
- Added to Site: 447 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 4
Bedrooms
- Total Bedrooms: 4
Other Rooms
- Laundry: In Unit
Additional Information
- Shared Amenities: None
- Pool Description: None
- Spa Description: None
- Security/Safety: None
- Other Features: None
Parking
- Garage Description: Garage - 4+ Car, Uncovered
Location
- Area: East Wilmington
- County: Los Angeles
- Driving Directions: North of Anaheim St
Heating & Cooling
- Cooling Type: None
- Heating Type: Other
Structural Information
- # Buildings: 1
- Common Walls: Attached
- Stories/Levels: 2
- Square Feet: 3,660
- Sq. Ft. Source: Assessor
- Year Built: 1926
- Year Built Source: Assessor
Unit Information
- Units in Complex: 4
- Unit Type: 2106, 2107, 2108, 2109
Unit 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.2298
- Lot Size: 10008
- Lot Size Source: Assessor
- Alley: Yes
- Zoning: LAC2
Financial Considerations
- Price Per Sq. Ft.: $204.92
- Assessment Year: 1926
- Owner Pays: Water, Gardener
- Tenant Pays: Gas, Electricity
Disclosures and Reports
- Disclosures/Reports: None
- APN: 7423-006-003
Listed and Sold by BRC Advisors- BH, John Katnik
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Schools
Schools serving 1042 N Avalon Blvd
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1235 Broad Ave, Wilmington, CA 90744 | K-8 | 0.2 mi | |
1527 Lakme Ave, Wilmington, CA 90744 | 9-12 | 0.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1042 N Avalon Blvd
Date
Details
Price
Change
Source
5/24/2023
Sold
$700,000
-6.67%
MLS
4/25/2023
Price Reduced
$750,000
-9.09%
MLS
2/27/2023
Listed
$825,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1042 N Avalon Blvd, Wilmington, CA 90744 (MLS# 23-245387) is a Multi-Family property that was sold at $700,000 on May 24, 2023. Want to learn more about 1042 N Avalon Blvd? Do you have questions about finding other Multi-Family real estate for sale in Wilmington? You can browse all Wilmington real estate or contact a Coldwell Banker agent to request more information.