1042 N Avalon Boulevard, Wilmington, CA 90744

About this property

$75,000 PRICE REDUCTION! Over a 5.50% Cap Rate Day 1 with huge rental upside! We are pleased to present this 3 unit apartment + 1 dental office mixed use opportunity located in the heart of Wilmington. The offering consists of three 1 bedroom units and one dental office. Each apartment unit includes a washer/dryer hookup. In total, the building sits on a 10,008 sq ft lot and features 4 single car garages and 8 open parking spaces. Offered at $204/ft, this opportunity allows an astute investor to add value to the property as tenants turnover and potentially execute on adding ADUs to the site (buyer to verify). The property has strong day 1 income operating at a 5.51% Cap Rate & 13.32 GRM. There is rental upside potential to a 9.06% Pro-Forma Cap Rate & 8.99 Pro-Forma GRM.

Listing description from the May 2023 sale, as reported to CRMLS.

Sale history

$700,000

Sold May 2023 · listed $750,000, orig. $825,000, on market February 2023 · MLS #23245387 · Source: CRMLS

Listing Agent: John Katnik · Listing Office: BRC Advisors- BH · Bought with: John Katnik · BRC Advisors- BH

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