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12624 S Wilmington Ave
For Sale $3,495,000 ($288.32 per Sq Ft)
$3,495,000 ($288.32 per Sq Ft)
- 14 Units
- 12,122 Sq Ft
- 29,359 Sq Ft
- Unknown Cap Rate
Description
We are pleased to offer this fourteen unit investment opportunity, located in the County of Los Angeles. 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).
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,495,000 |
| Property Type | Multi-Family |
| Usable Sqft | 12,122 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1992 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 6152001004 |
| MLS # | 25486383 |
| Property ID | 321204051 |
| Lot Sqft | 29,359 |
| Zoning | LCR3* |
| Total Units | 14 |
| Days on Market | 1 |
| Original List Price | $3,495,000 |
| Date Updated | January 20, 2025 |
| Date Created | January 20, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $1,751 | $1,751 |
| Unit #2 | 3 | 2.00 | $1,533 | $1,533 |
| Unit #3 | 3 | 2.00 | $1,533 | $1,533 |
| Unit #4 | 1 | 1.00 | $1,562 | $1,562 |
| Unit #5 | 2 | 1.00 | $2,710 | $2,710 |
| Unit #6 | 2 | 1.00 | $2,271 | $2,271 |
| Unit #7 | 2 | 1.00 | $1,285 | $1,285 |
| Unit #8 | 2 | 1.00 | $1,844 | $1,844 |
| Unit #9 | 2 | 1.00 | $1,285 | $1,285 |
| Unit #10 | 2 | 1.00 | $1,285 | $1,285 |
| Unit #11 | 2 | 1.00 | $2,450 | $2,450 |
| Unit #12 | 2 | 1.00 | $2,272 | $2,272 |
| Unit #13 | 3 | 2.00 | $0 | $0 |
| Gross Income (Yr) | $ 322,900 |
| Operating Expenses | $ 109,555 |
| Net Income (Yr) | $ 213,345 |
| Cap Rate | 6.10% |
Listing Provided By
Griffin White an agent of . Lic #02031785
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