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906 N Fries AVE Wilmington, CA 90744
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Key Details
Sold Price $1,490,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 6,312 sqft
Price per Sqft $236
MLS Listing ID PW24004528
Sold Date 08/07/24
HOA Y/N No
Year Built 1928
Lot Size 0.333 Acres
Lot Dimensions Public Records
Property Description
Development 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.
Location
State CA
County Los Angeles
Area 195 - West Wilmington
Zoning LARD1.5
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage None
Pool None
Community Features Sidewalks
Parking Type None
Total Parking Spaces 23
Private Pool No
Building
Lot Description Front Yard
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7416032028
Energy Description 3668.0
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Private
Special Listing Condition Standard
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Bought with Olga Wright • Lyon Stahl Investment Real Estate, Inc.
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