1043 Island Ave, Wilmington, CA 90744 - Photo 1

1/1

$765,000

Sold
Closed
Multi-Family
4 Total Beds

1/1

Property Description

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.

Full Property Details

Full Property Details for 1043 Island Ave

General

Sold For: $765,000
Status: Closed
Type: Multi-Family
Source: CLAW
MLS ID: 23-245365
Added to Site: 1, 131 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: Uncovered

Location

Area: West Wilmington
County: Los Angeles
Driving Directions: North of Anaheim St, West of Avalon Blvd

Heating & Cooling

Cooling Type: None
Heating Type: Other

Structural Information

# Buildings: 3
Common Walls: Detached/No Common Walls
Stories/Levels: 1
Square Feet: 2,192
Sq. Ft. Source: Assessor
Year Built: 1923
Year Built Source: Assessor
Property Condition: Fixer

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): 0.1632
Lot Size: 7111
Lot Size Source: Assessor
Zoning: LARD2

Financial Considerations

Price Per Sq. Ft.: $353.56
Assessment Year: 1923
Owner Pays: Gardener, Water
Tenant Pays: Electricity, Gas

Disclosures and Reports

Disclosures/Reports: None
APN: 7420-025-010

Listed by BRC Advisors- BH, John Katnik
Sold by Trans United R.E. & Loans, Alan Cruz

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Listing agent

— 1043 Island Ave —

John Katnik

BRC Advisors- BH

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Schools

Schools serving 1043 Island Ave

School District:Los Angeles Unified School District

Name	Grades	Distance
Fries Avenue Elementary School 1301 Fries Ave., Los Angeles, CA 90744	K-5	0.3 mi
Wilmington Mid Sci Tech Engr Arts Math (STEAM) Magnet 1700 Gulf Ave., Los Angeles, CA 90744	6-8	1 mi
Phineas Banning Senior High School 1527 Lakme Ave., Los Angeles, CA 90744	9-12	0.8 mi

Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1043 Island Ave

Date

Details

Price

Change

Source

4/28/2023

Sold

$765,000

-1.29%

MLS

2/27/2023

Listed

$775,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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1043 Island Ave, Wilmington, CA 90744 (MLS# 23-245365) is a Multi-Family property that was sold at $765,000 on April 28, 2023. Want to learn more about 1043 Island Ave? 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.

1043 Island Ave Wilmington, CA 90744