906 N Fries Ave Wilmington, CA 90744
8
Beds
10
Baths
6,312
Sq Ft
0.33
Acres
Highlights
- 0.33 Acre Lot
- Laundry Room
- Front Yard
About This Home
As of August 2024Development opportunity. Cash cow building + Value add! 2 lots with 2 APNs. (7416-032-028 - 7,247sf per assessor) and (7416-032-027 - 7,244sf per assessor) Beautiful character Spanish style building with tile roof. Bread and butter pride of ownership well-maintained 10 units. Significant RENTAL UPSIDE (raise rents, rent out parking spaces) + add laundry machines for more income. See for yourself - the last rental - apt 4 was rented in December 2023 for $1,500. Market rent is about $16,400/ month, or $196,800/ year.
2023-2024 upgrades - exterior paint, stairs, upper and lower decks refinished, new fence, landscaping, auto sprinklers. Capital improvements since purchase in August 2015 - new main drain line from the building to the street (apx 150 feet). Fresh water lines (copper and pex combination) from main meter.
New electrical wiring from meters to subpanels, new subpanels, panels, main breakers, Edison meters (10 units + house meter). Permits will be uploaded to supplements. Parking lot re-paved in 2015. Note -units #5,10 are bigger than the rest. Units #4,9 are studios.
Last Agent to Sell the Property
West Shores Realty, Inc. Brokerage Phone: 310.720.3677 License #01717119 Listed on: 01/16/2024
Property Details
Home Type
- Apartment
Year Built
- Built in 1928
Lot Details
- 0.33 Acre Lot
- Lot Dimensions are 145 x 100
- No Common Walls
- Front Yard
- 7416032027
Interior Spaces
- 6,312 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 8 Bedrooms
- 10 Bathrooms
Parking
- 23 Open Parking Spaces
- 23 Parking Spaces
Listing and Financial Details
- Legal Lot and Block 9 / 1
- Assessor Parcel Number 7416032028
- $1,181 per year additional tax assessments
Community Details
Building Details
- 10 Leased Units
- Rent Control
- 11 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Fuel Expense $3,668
- Gardener Expense $1,200
- Insurance Expense $3,031
- Other Expense $122
- Pest Control $832
- Professional Management Expense $6,500
- Trash Expense $3,412
- Water Sewer Expense $11,421
- New Taxes Expense $16,829
- Operating Expense $48,283
- Gross Income $135,444
- Net Operating Income $86,321
Additional Features
- 10 Units
- Laundry Facilities
Similar Homes in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/07/2024 08/07/24 | Sold | $1,490,000 | -6.6% | $236 / Sq Ft |
| 06/10/2024 06/10/24 | Pending | -- | -- | -- |
| 04/24/2024 04/24/24 | Price Changed | $1,595,000 | -5.6% | $253 / Sq Ft |
| 04/03/2024 04/03/24 | Price Changed | $1,690,000 | -5.6% | $268 / Sq Ft |
| 01/16/2024 01/16/24 | For Sale | $1,790,000 | 0.0% | $284 / Sq Ft |
| 11/30/2015 11/30/15 | Rented | $975 | 0.0% | -- |
| 10/26/2015 10/26/15 | For Rent | $975 | 0.0% | -- |
| 08/27/2015 08/27/15 | Sold | $1,195,000 | -0.4% | $189 / Sq Ft |
| 08/15/2015 08/15/15 | Pending | -- | -- | -- |
| 10/24/2014 10/24/14 | For Sale | $1,200,000 | -- | $190 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Vlad Rodov
Seller's Agent in 2024
Vlad Rodov
West Shores Realty, Inc.
(310) 720-3677
1 in this area
23 Total Sales
-
Olga Wright
Buyer's Agent in 2024
Olga Wright
Lyon Stahl Investment Real Estate, Inc.
(310) 425-9838
9 in this area
95 Total Sales
-
Scott Brady
S
Seller's Agent in 2015
Scott Brady
Partners Real Estate Group
(714) 528-2999
22 Total Sales
-
Nadege Labat
N
Seller's Agent in 2015
Nadege Labat
West Shores Realty, Inc.
(310) 489-1627
2 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW24004528
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