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906 N Fries Avenue, Wilmington, CA 90744

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For Sale

$1,595,000

8 beds • 10 baths • 6,312 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $252.69
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# PW24004528

Courtesy Of West Shores Realty

(310) 541-8000

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Lawn
  • Architecture Style
    Other
  • Roof Type
    Unknown
  • Rooms
    Bedroom, Full Bath

Map and Directions

Directions to 906 N Fries Avenue, Wilmington, CA 90744

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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