1043 Island Avenue
1043 Island Avenue
$765,000
4
4
2,192
2,192
$349
Sold 4/28/23
Description
We are pleased to present this 4 unit apartment community located in the heart of Wilmington. The offering consists of four 1 bedroom units. One unit will be delivered vacant at close of escrow allowing for an ideal owner-user opportunity. Two units includes washer/dryer hookups. In total, the buildings sit on a 7,111 sq ft lot and feature 3 open parking spaces. Offered at $193k/unit, this opportunity allows an astute investor to add value to the property as tenants turnover. The property has strong...We are pleased to present this 4 unit apartment community located in the heart of Wilmington. The offering consists of four 1 bedroom units. One unit will be delivered vacant at close of escrow allowing for an ideal owner-user opportunity. Two units includes washer/dryer hookups. In total, the buildings sit on a 7,111 sq ft lot and feature 3 open parking spaces. Offered at $193k/unit, this opportunity allows an astute investor to add value to the property as tenants turnover. The property has strong day 1 income operating at a 4.69% Cap Rate & 13.21 GRM. There is rental upside potential to a 7.55% Pro-Forma Cap Rate & 9.50 Pro-Forma GRM. This property is a part of a 8 building portfolio ranging from apartments, commercial, mixed use and a hotel. Each property in the portfolio is being offered individually or can be bought together! Each building in the portfolio is less than a mile away from each other and most are within a few blocks of each other.
- Listed by John Katnik • DRE #02002695 • Brokerage DRE #01765179 • BRC Advisors- BH
Property Details for 1043 Island Avenue
Zoning
LARD2
Parcel Number7420025010
Total Units4.0
Living Area2192
Source Living AreaAssessor
AreaWest Wilmington (195)
Vacancy Rate25%
Lot Size Area7111
Location
LISTING UPDATED: 04/28/2023 12:08 PM
Property Details for 1043 Island Avenue
Status | Sold |
---|---|
MLS # | 23-245365 |
Days on Market | 35 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1923 |
Lot Size | 0.16 AC / 7,111 SF |
County | Los Angeles County |
Location
Building Information for 1043 Island Avenue
Stories1Residences-Year Built1923Building Size-Lot Size0.16 AC / 7,111 SF
Payment Calculator
$4,276 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1043 Island Avenue
Property History for 1043 Island Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1043 Island Avenue
Taxable ValueLand$23,064Additions$33,596Total$56,660
Tax Record2023$1,208 ($101 / month)
Home Facts
Total Finished SqFt2,192 SqFtAbove Grade Finished SqFt2,192 SqFtLot Size7,111 SqFtStyleQuadraplexYear Built1923ZoningLARD2CountyLOS ANGELESAPN7420-025-010
Schools near 1043 Island Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 7 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Fries Avenue Elementary School PublicK to 5 | ||
William J. Johnston Community Day School Public7 to 12 | ||
Phineas Banning Senior High School Public9 to 12 | ||
Avalon High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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