$1,300,000
$1,425,000
8.8%For more information regarding the value of a property, please contact us for a free consultation.
4,664 SqFt
SOLD DATE : 10/27/2022
Key Details
Sold Price $1,300,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 4,664 sqft
Price per Sqft $278
Subdivision ,The North San Pedro
MLS Listing ID SR22183674
Sold Date 10/27/22
HOA Y/N No
Year Built 1956
Lot Size 7,880 Sqft
Acres 0.1809
Property Description
*** The Eubank is offered for sale as part of 3 building, 24 unit Wilmington portfolio that may be purchased collectively or individually. ***
Lucrum Real Estate Group is proud to present The Eubank, a multifamily investment property totaling 8 units located at 1114 Eubank Ave. Wilmington, CA 90744. This cozy 8-unit apartment building was built in 1956. The apartment building is 2 stories and offers 8 two-bedroom/one-bath units. The building construction is of wood frame with a slightly pitched roof and painted stucco exterior.
The total building square footage is ±4,664 on a ±7,878 square foot lot zoned LAR1. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add asset with significant rental upside potential.
Common area amenities include a laundry room and 8 on-site parking spaces. Each unit is separately metered for gas & electricity. Aesthetically, the asset is tucked behind a tree giving it more curb appeal and sense of privacy. The property grounds and building are reasonably kept and maintained.
The building has driveway entry off of Eubank Ave.
1114 Eubank Ave. is located in a highly urbanized community of Wilmington within Los Angeles County in a community among other apartment buildings and near commercial strip centers on the main thoroughfare of Anaheim St. The building is a short distance drive to the 110 and 1 Fwys. It is roughly 15 minutes driving to the Long Beach Harbor and the Queen Mary. Nearby destinations include Los Angeles Harbor College and Ken Malloy Harbor Regional Park which is approximately two and a half miles away for residents to enjoy some recreation time. Residents can also stroll to the Banning museum to view the Greek Revival-Victorian home.
The property itself has a 65 walk score and 79 bike score as it is in reasonable distance to many stores and restaurants.
Property Highlights
+ ±79% rental upside
+ Part of a 3 Building, 24 Unit Wilmington Portfolio
+ Curb Appeal
+ Attractive unit composition of all 2BR units
+ Cozy units
+ On a tree-lined quiet street
+ Value-add opportunity
+ Strong rental market
+ Central location
+ Proximity to freeway access
Location
State CA
County Los Angeles
Area 195 - West Wilmington
Rooms
Ensuite Laundry Common Area, See Remarks
Interior
Laundry Location Common Area,See Remarks
Fireplace No
Laundry Common Area, See Remarks
Exterior
Garage On Site, One Space, See Remarks
Pool None
Community Features Fishing, Park, Street Lights, Sidewalks, Urban
Parking Type On Site, One Space, See Remarks
Total Parking Spaces 8
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7423027022
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Financing Conventional
Special Listing Condition Standard
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Bought with Raymond Rodriguez • Keller Williams Realty Calabasas
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner