315 W Opp Street

    Wilmington, CA 90744
    • $2,600,000
    • STATUS: Closed
    • ON SITE: 250 days
    • ID#: PW18028306
    Sold - 07/23/2018
    $2,600,000
    SOLD - 07/23/2018
    • 0
      BEDS
    • 0.49
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,930
      SQFT
    • $291
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    The offering comprises seven duplexes with all one-bedroom units, a three-bedroom single-family home, and a retail store on a large 21,317-square foot lot. This property is subject to rent control. 315 West Opp Street is securely gated and boasts attractive landscaping, two large shared yards, on-site laundry, and additional storage spaces. Recent substantial capital expenditures include copper plumbing, new electrical, security doors, aluminum windows, new drain lines, tile bathrooms, granite in some units, wall heaters, and individual water heaters. With current rents approximately 32 percent below market, 315 West Opp Street presents the opportunity for an astute investor to acquire a well-maintained asset and capture substantial potential upside in rents.

    Sold by Steven Bogoyevac of Steven M. Bogoyevac, Broker.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-16T20:30:29.867. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/80591798

    315 W Opp Street Wilmington, CA 90744

    • Price: $2,699,000
    • Status: Closed
    • Updated: 49 min ago
    • ID#: PW18028306
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.49
    Acres
    8,930
    SQFT
    $291
    $/SQFT
    1924
    Built
    Neighborhood:
    195 - West Wilmington
    County:
    Los Angeles
    Area:
    195 - West Wilmington
    Property Description
    The offering comprises seven duplexes with all one-bedroom units, a three-bedroom single-family home, and a retail store on a large 21,317-square foot lot. This property is subject to rent control. 315 West Opp Street is securely gated and boasts attractive landscaping, two large shared yards, on-site laundry, and additional storage spaces. Recent substantial capital expenditures include copper plumbing, new electrical, security doors, aluminum windows, new drain lines, tile bathrooms, granite in some units, wall heaters, and individual water heaters. With current rents approximately 32 percent below market, 315 West Opp Street presents the opportunity for an astute investor to acquire a well-maintained asset and capture substantial potential upside in rents.
    Exterior Features

    Garage Spaces 7.00 Lot Features Lot 20000-39999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 7.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 5.39 Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Garage Income 14400.00 Gross Income 20400.00 Gross Multiplier 12.54 Gross Scheduled Income 196817.00 Insurance Expense 0.00 Land Lease YN No Laundry Income 6000.00 Laundry YN Yes Net Operating Income 145531.00 New Taxes Expense 0.00 Number Of Separate Electric Meters 16 Number Of Separate Gas Meters 16 Number Of Separate Water Meters 16 Operating Expense 69718.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Total Expenses 69718.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lard2

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker and David O'keefe of Marcus & Millichap.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-16T20:30:29.867. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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