916-918 Watson Ave

01-14-2022
01-14-2022

916-918 Watson Ave, Wilmington, CA 90744

  • Currently operating at a 4.65% CAP and 13.29 GRM
  • Still over 20% upside in monthly rental income available
  • Unit mix consisting of (4) 1Bed/1Bath and (10) Studio/1Bath
  • Priced at only $160k/unit
  • Remodeled units include new hardwood flooring, cabinets and windows

Property Description

14 Units located near the port of Los Angeles, 916
Watson Ave is partially remodeled with plenty of
upside for an investor looking to increase the value.
This cash flowing apartment building is located in the
90744 zip code near the new Harbor redevelopment
project and is offered at only $160k per unit. The
property is currently operating at an above market
cap rate of 4.65% and 13.29 GRM. 916 Watson Ave is
the ideal opportunity for any investor looking for strong
cash flow with room to grow the monthly income by
over 20%.
An ideal unit mix for the 2022 renter as it consists of
(4) 1-Bed/1-Bath and (10) Studio/1-Bath units. Some
units have been remodeled, including new floors,
cabinets and windows. The property sits on a 6,802
SqFt lot and has 4,620 SqFt of rentable space.
With the Harbor development project, the draw from
the port of Los Angeles, and being located in one of
the most densely populated markets in the county, 916
Watson is ideally positioned for long term upside and
is a great purchase for current cash-flow.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 2,250,000
No. of Units
14
Cap Rate
4.65%
GRM / GIM
13.29
Year Built
1924
Building Size
4,620 Sq ft
Opportunity Zone
Off
Price per unit
$ 160,714
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33.782785, -118.247219

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