906 Fries Avenue

Wilmington, CA 90744

$1,595,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $252 / sqft

1928

calendar_month Built

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) Building sits on one APN, buyer can re-develop or sell the other APN. City says minimum 3 (non-rent controlled) units can be added to the vacant lot. Buyer to check. 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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A

Listing Information

Address 906 Fries Avenue
City Wilmington
State CA
Zip 90744
County Los Angeles
Listing Agent Vlad Rodov DRE#01717119
Courtesy Of West Shores Realty, Inc.
MLS PW24004528
List Price $1,595,000
Status Active
Type Residential Income
Subtype Apartment
Structure Size N/A
Lot Size 14,491
Year Built 1928
DOM 99

Exterior Information

Maps

Listing information courtesy of: Vlad Rodov, West Shores Realty, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 24th, 2024 at 4:20 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.