NOT LISTED FOR SALE

1119 W Chandler St Wilmington, CA 90744

5 Beds
5 Baths
2,880 Sq Ft
9,279 Sq Ft Lot

Last Sold April 30, 2014

Last sale price $530,000 $184 Per Sq Ft

21 Days on Market

About This Home

As of April 2014

This investment offering consists of 5 bungalow-style units in a courtyard style complex in a quiet residential neighborhood in Wilmington. It is a rare investment opportunity where investors can immediately benefit from positive cash flow with immediate upside as 4 units are due for the annual 3% rent increase and the other unit will be eligible for the annual increase in June of 2014. The property is well maintained with upgraded plumbing, 5 garages and 6 open parking spaces. There is a common area laundry room onsite. As units turn over, the below market rents present a significant upside of 40-60% rental income on most of the units.

This apartment complex located in a quiet residential neighborhood just South of Lomita Boulevard and West of Wilmington Boulevard. It is situated on a large corner lot at the northeast corner of Chandler & Frigate Avenue in a highly desirable rental pocket of Wilmington. Most of the properties in this neighborhood are single family residences.

Last Agent to Sell the Property

Stephen Lampe

Re/Max Commercial & Investment License #01164364 Listed on: 03/19/2014

Re/Max Commercial & Investment

Last Buyer's Agent

Stephen Lampe

Re/Max Commercial & Investment License #01164364 Listed on: 03/19/2014

Re/Max Commercial & Investment

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1930

Lot Details

  • 9,279 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot

Parking

  • 5 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 2,880 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Listing and Financial Details

  • Tax Lot 25
  • Tax Tract Number 6109
  • Assessor Parcel Number 7414016025

Community Details

Overview

  • 2 Buildings
  • 5 Units

Building Details

  • 5 Leased Units
  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $180
  • Insurance Expense $1,530
  • Maintenance Expense $3,000
  • Water Sewer Expense $1,896
  • New Taxes Expense $6,977
  • Gross Income $4,352
  • Net Operating Income $36,641

Property Details

Home Type

Multi-Family

Year Built

Built in 1930

Lot Details

0

Parking

5

Listing Details

  • CapRate: 6.43
  • Price Per Unit: 114000
  • Property Attached: Yes
  • Water Sewer Expenses: 1896.00
  • Property Type: Residential Income
  • Parcel Number: 7414016025
  • Year Built: 1930
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 184.03

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 11.00

Utilities

  • Utilities: Sewer Available
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Lot Features: Corner Lot
  • Lot Size Sq Ft: 9279.00
  • Lot Size Acres: 0.2130

Multi Family

  • Electric Expense: 180.00
  • Gross Income: 4352.00
  • Gross Multiplier: 10.91
  • Gross Scheduled Income: 49464.00
  • Insurance Expense: 1530.00
  • Lot Size Area: 9279.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 36641.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 14099.00
  • Rent Control: Yes
  • Total Actual Rent: 4122.00
  • Vacancy Allowance: 1484

Tax Info

  • New Taxes Expense: 6977.00
  • Tax Lot: 25
  • Tax Tract Number: 6109
  • Tax Year: 2013

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/30/2014 04/30/14 Sold $530,000 -7.0% $184 / Sq Ft
04/09/2014 04/09/14 Pending -- -- --
03/19/2014 03/19/14 For Sale $570,000 -- $198 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Stephen Lampe

    Seller's Agent in 2014

    Stephen Lampe

    RE/MAX

    (310) 802-2500

    44 Total Sales

    Stephen Lampe
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB14056484

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Wilmington 90744

1119 W Chandler St, Wilmington, CA

This home is located at 1119 W Chandler St, Wilmington, CA 90744 since 19 March 2014. This property was built in 1930. 1119 W Chandler St is a home located in Los Angeles County with nearby schools including Fries Avenue Elementary School, Wilmington Middle School STEAM Magnet, and Phineas Banning Senior High School.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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