Wilmington, CA 90744,1020 Broad
Wilmington, CA 90744,1020 Broad
Wilmington, CA 90744,1020 Broad
Wilmington, CA 90744,1020 Broad
Wilmington, CA 90744,1020 Broad
Wilmington, CA 90744,1020 Broad
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$ 1,595,000
Est. payment | /mo

8,485 Sqft Lot


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$ 1,595,000
Est. payment | /mo
Save

8,485 Sqft Lot

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26002296

HOA Y/N No

Year Built 1958

Lot Size 8,485 Sqft

Property Sub-Type Apartment

Property Description

Priced well below the cost of replacement, this unique 8 units Apartment Building with ALL 2 Bedroom units has amazing long term upside potential with current rents far below market (approximately 40% upside in rents). Although the asset is subject to LA City Rent Control, the positive side of owning this asset is exceptionally low turnover, low move out, low maintenance expenses, ease of management, and downside protection - (when or if) standard market rents / vacancies pose a challenge to keep up with, these rents can only go UP (most likely).
Upgrades & Attributes: The asset has an exceptional units mix with all 2 Bedrooms that are larger than the normal size for the area. All electrical panel have been replaced (2025), the SB721 Balcony Inspection has been completed (2025), New Roof (2020) and still under warranty, NO Soft Story Construction (this is an obstacle with many buildings in CA and not a variable with this asset as all parking is open - no tuck under parking). Large Laundry Room (4 machines) on MTM Lease with WASH, separate utility meters for gas and electric, and most of the building appears to be copper plumbed (Buyer to verify).
Area: Gateway to Los Angeles: Wilmington is a neighborhood in Los Angeles, California with a population of 51,815. Wilmington is in Los Angeles County. Living in Wilmington offers residents a dense suburban feel and most residents rent their homes. In Wilmington there are a lot of coffee shops and parks. The public schools in Wilmington are considered above average.

Location

State CA

County Los Angeles

Area 196 - East Wilmington

Interior

Heating Natural Gas

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Sidewalks

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7423009009

Energy Description 2306.0

Acceptable Financing Cash, Cash to New Loan, Owner Will Carry

Listing Terms Cash, Cash to New Loan, Owner Will Carry

Special Listing Condition Standard

CRMLS – RECore
Listed by David Holstein The Holstein Group 310-345-9994
Christian Task

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 910-8642

ctaskre@gmail.com

P.O. Box 663, Sunset Beach, California, 90742, USA

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1020 Broad