12624-12700 S Wilmington Avenue - Apartments FOR SALE


Los Angeles, CA 90059
$3,495,000 USD
949-306-1175
12624-12700 S Wilmington Avenue, Los Angeles, CA for Sale
$3,495,000 USD
Apartments - FOR SALE
1/10
null | 6.1% Cap Rate

12624-12700 S Wilmington Avenue
Los Angeles, CA 90059


HIGHLIGHTS

  • UNIT MIX: TWO 1+1, EIGHT 2+1, & FOUR 3+2 UNITS
  • DEVELOPMENT OPPORTUNITY - 5 UNITS BY RIGHT & 4 ADUs
  • SEVEN UNITS HAVE BEEN RECENTLY RENOVATED
  • NEW BUILDING AND UNIT NUMBERS
  • NEW EXTERIOR PAINT AND LIGHTS
  • SEPERATELY METERED FOR GAS & ELECTRICITY

OVERVIEW

The unit mix consists of two 1+1, eight 2+1, and four 3+2 units. The investment consists of approximately 12,122 of rentable square feet and is situated on two adjacent parcels totaling approximately 29,359 square feet. Recent property upgrades include new exterior paint, new exterior lighting, new exterior building and unit numbers, and seven of the units have recently been renovated. The building amenities include a large parking area with several spaces and driveway spots, an on-site laundry room generating additional income, and the property is separately metered for both gas & electricity. The 12700 Wilmington parcel is located in the H30 zone which allows you to build 30 units per acre of land. This allows a new investor to add five units by right and four additional ADUs (per county planner/buyer to verify). Call/email Griffin White for complete package. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS 2) Interior Inspection/Books & Records Granted with an Accepted Offer. 3) Submit Proof of Funds & Pre-Qualification Letter with Offer. Broker/agent do not guarantee the accuracy of the square footage, lot size, development potential, or any other information concerning the conditions or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify and complete own due diligence to verify accuracy of all information through physical and personal inspections and with appropriate professionals. Sellers are licensed real estate brokers in the state of California.

FOR SALE DETAILS

PRICE

$3,495,000 USD

PRICE/SF

$288 USD /SF

# OF UNITS

14

PRICE/UNIT

$249,643

CAP RATE

6.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1992

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,359 SF

ZONING

LCR3*

APN/PARCEL ID

6152-001-004,6152-004-019

ASK ABOUT THIS PROPERTY

Griffin WhiteBRC Advisors - BH, Inc.More Info
949-306-1175

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Griffin WhiteBRC Advisors - BH, Inc.More Info
949-306-1175

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.