720 King Ave Wilmington, CA 90744
Estimated payment $6,761/month
Highlights
- No HOA
- Rectangular Lot
- 1-Story Property
- Laundry Room
About This Home
ADU Development Opportunity – 2plex + 3plex on Adjacent Lots ***Rare opportunity to acquire two properties on two side-by-side APNs with a combined lot size of 11,218 SF zoned LARD1.5, offering significant ADU expansion potential. The site configuration and zoning present the possibility to develop 7+ additional ADUs (buyer to verify with city), making this an attractive value-add and long-term unit expansion play. ***The property currently consists of total 5 units. 2 units are vacant, in rent-ready condition, allowing a buyer to lease at market rents while planning future development. Current rents are $1,424, $915, and $688, with additional income from on-site laundry. Investors benefit from existing cash flow while unlocking substantial upside through ADU development, a rare opportunity to significantly increase density and rental income on a large multifamily lot.
Listing Agent
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-801-7373 License #01315042 Listed on: 03/10/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1924
Lot Details
- 0.26 Acre Lot
- No Common Walls
- Rectangular Lot
- 7416012007
Home Design
- Triplex
- Entry on the 1st floor
Interior Spaces
- 2,288 Sq Ft Home
- 1-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 5 Bedrooms
- 5 Bathrooms
Additional Features
- Exterior Lighting
- Urban Location
Listing and Financial Details
- Tax Lot 13
- Tax Tract Number 1388
- Assessor Parcel Number 7416012008
- $350 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 7 Buildings
- 5 Units
Amenities
- Laundry Facilities
Building Details
- 3 Leased Units
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 2 Separate Water Meters
- Gardener Expense $1,200
- Insurance Expense $2,860
- Maintenance Expense $3,000
- Water Sewer Expense $4,000
- New Taxes Expense $13,750
- Operating Expense $24,810
- Gross Income $96,324
- Net Operating Income $68,624
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/10/2026 03/10/26 | For Sale | $1,100,000 | +27.2% | $481 / Sq Ft | |
| 08/18/2023 08/18/23 | Sold | $865,000 | +1.8% | -- | View Prior Sale |
| 07/17/2023 07/17/23 | For Sale | $850,000 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB26048458
APN: 7416-012-007
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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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