516 N Fries Ave - Apartments FOR SALE


Wilmington, CA 90744
$16,990,000 USD
323-274-2115
516 N Fries Ave, Wilmington, CA for Sale
$16,990,000 USD
Apartments - FOR SALE
1/24
null | 5.88% Cap Rate

516 N Fries Ave
Wilmington, CA 90744


OVERVIEW

Compass is please to bring to market is listing of 516 N Fries Ave. This incredible property is in the final stages of development and will be sold with a service provider contract direct with the city of Los Angeles. This means this will be a single tenant property where the service provider is responsible for the leasing and running of the property leaving very little landlord responsibilities. Additionally the property will qualify for decreased property taxes due to HUD pass through from having a property leased to a single government agency. The property boasts a long term lease allowing for continued secured investing.

FOR SALE DETAILS

PRICE

$16,990,000 USD

PRICE/SF

$591 USD /SF

# OF UNITS

39

PRICE/UNIT

$435,641

CAP RATE

5.88%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

RD1.5

APN/PARCEL ID

7418-004-003

ASK ABOUT THIS PROPERTY

Greg EngelCompass CommercialMore Info
323-274-2115

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Greg EngelCompass CommercialMore Info
323-274-2115

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