NOT LISTED FOR SALE

725 Sanford Ave Wilmington, CA 90744

-- Bed
-- Bath
9,200 Sq Ft
0.29 Acres

Last Sold January 24, 2014

Last sale price $1,350,000 $147 Per Sq Ft

288 Days on Market

About This Home

As of January 2014

We are proud to offer a 20 unit apartment building located in Wilmington, California. This investment consists of two 10 unit buildings which are situated on their own parcels. The unit mix consists of 16 one-bedroom / one-bath and four studio / one-bath units. The subject property was constructed in 1924 of wood-frame and stucco and is separately metered for electricity. Each 10 unit building has its own water meter and storage. The subject property is approximately one mile from the Long Beach and Los Angeles ports and is centrally located between the 710 Long Beach and 110 Harbor freeways. Because of its convenient location to local commerce and the limited supply of apartment buildings in the immediate area, the subject property’s units are in very high demand. This is a great opportunity for a buyer looking to acquire a cash flowing property with rental upside in a high demand location.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 02/05/2013

Last Buyer's Agent

Kevin King

Marcus & Millichap License #01158184 Listed on: 02/05/2013

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 0.29 Acre Lot
  • 1 Common Wall
  • Density is 16-20 Units/Acre

Home Design

  • 9,200 Sq Ft Home
  • Property Attached

Additional Features

  • Exterior Lighting
  • Septic Type Unknown

Listing and Financial Details

  • Tax Lot 13
  • Tax Tract Number 5838
  • Assessor Parcel Number 7424020012

Community Details

Overview

  • 2 Buildings
  • 20 Units

Building Details

  • 20 Separate Electric Meters
  • 20 Separate Gas Meters
  • 2 Separate Water Meters
  • Gardener Expense $1,000
  • Insurance Expense $3,680
  • Maintenance Expense $8,388
  • Other Expense $2,500
  • Professional Management Expense $8,388
  • Trash Expense $1,500
  • Water Sewer Expense $12,000
  • New Taxes Expense $18,438
  • Gross Income $13,980
  • Net Operating Income $97,479

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • CapRate: 6.61
  • Professional Management Expense: 8388.00
  • Property Attached: Yes
  • Water Sewer Expenses: 12000.00
  • Property Type: Residential Income
  • Gardener Expense: 1000.00
  • Parcel Number: 7424020012
  • Year Built: 1924
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 146.74

Exterior Features

  • Pool Private: No

Utilities

  • Sewer: Unknown
  • Trash Expense: 1500.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights

Lot Info

  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 12763.00
  • Lot Size Acres: 0.2930

Multi Family

  • Gross Income: 13980.00
  • Gross Multiplier: 8.79
  • Gross Scheduled Income: 167760.00
  • Insurance Expense: 3680.00
  • Lot Size Area: 12763.0000 Square Feet
  • Maintenance Expense: 8388.00
  • Net Operating Income: 97479.00
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 2
  • Number Of Units Total: 20
  • Operating Expense: 61894.00
  • Other Expense: 2500.00
  • Other Expense Description: Misc&Res
  • Rent Control: No

Tax Info

  • New Taxes Expense: 18438.00
  • Tax Lot: 13
  • Tax Tract Number: 5838
  • Tax Year: 2011

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 List to Sale Price per Sq Ft
01/24/2014 01/24/14 Sold $1,350,000 -10.0% $147 / Sq Ft
11/20/2013 11/20/13 Pending -- -- --
02/05/2013 02/05/13 For Sale $1,500,000 -- $163 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Kevin King

    Seller's Agent in 2014

    Kevin King

    Marcus & Millichap

    (562) 257-1245

    46 Total Sales

    Kevin King
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW13016752

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

725 Sanford Ave, Wilmington, CA

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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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