Multifamily Investment Opprtunity | 844 King Ave
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Multifamily Investment Opprtunity 844 King Ave
8 Unit Apartment Building $1,568,000 ($196,000/Unit) 4.61% Cap Rate Wilmington, CA 90744
Investment Highlights
- Upside in rents
- First time on market for sale in over 20 years
- Great rental Market
Executive Summary
Tucked between Long Beach & San Pedro and only 20 miles from downtown Los Angeles Opportunity Knocks in the heart of Wilmington, Ca. to aquire a two story apartment building consisting of 8 units that are all 2 Bedroom 1 bath has an open parking lot for 8 vehicles, and a seperate laundry room. First time on the market in over 20 years, property rents are low withlong term tenants offering a big upside in rents. Seller motivated.
Data Room Click Here to Access
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,568,000 | Apartment Style | Low Rise |
| Price Per Unit | $196,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.61% | Building Size | 5,376 SF |
| Gross Rent Multiplier | 13.59 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/1985 |
| Property Subtype | Apartment |
| Price | $1,568,000 |
| Price Per Unit | $196,000 |
| Sale Type | Investment |
| Cap Rate | 4.61% |
| Gross Rent Multiplier | 13.59 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,376 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/1985 |
Unit Amenities
- Air Conditioning
- Refrigerator
- Satellite TV
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,364 | - |
1 of 1
Walk Score ®
Very Walkable (82)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 7416-013-001 | Total Assessment | $317,793 (2024) |
| Land Assessment | $170,516 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $147,277 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
7416-013-001
Land Assessment
$170,516 (2024)
Improvements Assessment
$147,277 (2024)
Total Assessment
$317,793 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | LAR1 |
| LAR1 |
-
Efon Manriquez -
Leonard Manriquez -
ALB Commercial Capital
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Multifamily Investment Opprtunity | 844 King Ave
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