916-918 Watson Ave, Wilmington, CA 90744

916-918 Watson Ave, Wilmington, CA 90744

Wilmington, CA

Property Description

14 Units located near the port of Los Angeles, 916 Watson Ave is partially remodeled with plenty of upside for an investor looking to increase the value. This cash flowing apartment building is located in the 90744 zip code near the new Harbor redevelopment project and is offered at only $160k per unit. The property is currently operating at an above market cap rate of 4.65% and 13.29 GRM. 916 Watson Ave is the ideal opportunity for any investor looking for strong cash flow with room to grow the monthly income by over 20%. An ideal unit mix for the 2022 renter as it consists of (4) 1-Bed/1-Bath and (10) Studio/1-Bath units. Some units have been remodeled, including new floors, cabinets and windows. The property sits on a 6,802 SqFt lot and has 4,620 SqFt of rentable space. With the Harbor development project, the draw from
the port of Los Angeles, and being located in one of the most densely populated markets in the county, 916 Watson is ideally positioned for long term upside and is a great purchase for current cash-flow.

Property Features

  • Sale Price: $2,100,000
  • Area Size: 4,620 SF
  • Land Area: 6,802 SF
  • Year Built: 1924
  • Closing Date: April 25, 2022
  • Units: 14