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Jim, Justin and Vickie, Sales Associate
SOLD
$785,000
Date 03/21/2024

1147 N Marine Avenue
Wilmington, CA 90744

Fourplex
Residence
2,400
Sqft
0.1538
Lot Size
Listing Agent: Evelyn Baez Gonzalez CalDRE: 02103055 - Lyon Stahl Investment Real Estate, Inc., 951-902-3006

Description for 1147 N Marine Avenue Wilmington, CA 90744

We are pleased to present this 4 unit apartment community located in the heart of Wilmington. The offering consists of (4) 1 Bed / 1 Bath units. Eachapartment unit includes a washer/dryer hookup and brand new water heaters as of Feb 2024. In total, the buildings sit on a 6,697 sq ft lot and feature 4 single car garages. Tenants pay for electricity and gas. There is ONE water meter and 4 electrical panels and 4 gas meters. There is rental upside potential to a 8.71% Pro-Forma Cap Rate & 8.10 Pro-Forma GRM. There is a 648 sq ft garage in the back with RTI plans for (2) ADUs consisting of 1+1. Plans are fully approved and are ready for construction! This could ultimately be converted into a 6 unit apartment building. Property can be financed through a residential loan.

Property Details

SB24030389
Fourplex, 1 Story
Los Angeles
1923
0.1538 Acres
Public
1
Public Sewer
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Listing Agent: Evelyn Baez Gonzalez CalDRE: 02103055 - Lyon Stahl Investment Real Estate, Inc., 951-902-3006
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Jim, Justin and Vickie Dean Stalter, Broker DRE# 00625377 - 30221 Golden Lantern Ste. A-B, Laguna Niguel, CA 92677 | Phone: (949) 464-8136 | Email: [email protected]

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