303 E Denni Street

    Wilmington, CA 90744
    • $4,650,000
    • STATUS: Active
    • ON SITE: 41 days
    • ID#: PW19210699
    UPDATED: 51 min ago
    $4,650,000
    • 0
      BEDS
    • 0.58
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 25,386
      SQFT
    • $183
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    303 East Denni Street, a well-maintained 28-unit apartment building in Wilmington, California. The property is located one mile from two major developments that will revamp Wilmington+GGs waterfront by replacing industrial buildings with parks. The projects total 22 acres and $77 Million, and are both slated for completion in 2021. 303 East Denni Street consists of a 1972 construction building with 28 one-bed/one-bath units that are separately metered for electricity. The property also offers a spacious community room with a kitchen and bathroom, a landscaped inner courtyard and ample parking with storage, consisting of 20 tuck-under spaces, 4 open spaces and a two car garage. Seller has obtained plans and permits for the seismic retrofit and will pay for the seismic retrofit at an approximate cost of $176,000.This offering presents a great opportunity for an investor to acquire an asset in a redeveloping area of the South Bay, add value and capture over 26 percent rental upside.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-15T17:37:53.493. 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 or RE/MAX Masters. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/98615549

    303 E Denni Street Wilmington, CA 90744

    • Price: $4,650,000
    • Status: Active
    • Updated: 51 min ago
    • ID#: PW19210699
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.58
    Acres
    25,386
    SQFT
    $183
    $/SQFT
    1972
    Built
    Neighborhood:
    196 - East Wilmington
    County:
    Los Angeles
    Area:
    196 - East Wilmington
    Property Description
    303 East Denni Street, a well-maintained 28-unit apartment building in Wilmington, California. The property is located one mile from two major developments that will revamp Wilmington+GGs waterfront by replacing industrial buildings with parks. The projects total 22 acres and $77 Million, and are both slated for completion in 2021. 303 East Denni Street consists of a 1972 construction building with 28 one-bed/one-bath units that are separately metered for electricity. The property also offers a spacious community room with a kitchen and bathroom, a landscaped inner courtyard and ample parking with storage, consisting of 20 tuck-under spaces, 4 open spaces and a two car garage. Seller has obtained plans and permits for the seismic retrofit and will pay for the seismic retrofit at an approximate cost of $176,000.This offering presents a great opportunity for an investor to acquire an asset in a redeveloping area of the South Bay, add value and capture over 26 percent rental upside.
    Exterior Features

    Carport Spaces 20.00 Garage Spaces 2.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 26.00 Pool Features None Pool Private YN No Property Attached YN Yes

    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 1 Common Wall Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsSidewalks Country Us Elevation Units Feet Fuel Expense 0.00 Gardener Expense 4880.00 Gross Income 372426.00 Gross Scheduled Income 372426.00 Insurance Expense 7194.00 Land Lease YN No Laundry YN Yes Net Operating Income 210490.00 New Construction YN No New Taxes Expense 57977.00 Number Of Separate Electric Meters 28 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 161936.00 Professional Management Expense 14897.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 161936.00 Trash Expense 9600.00 Water Sewer Expense 26334.00 Water Source Public Year Built Source Public Records Zoning Lard1.5

    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 2019-10-15T17:37:53.493. 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 or RE/MAX Masters. Licensed in the State of California, USA.
     
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