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Wilmington, 6-units 1214 E Sandison Street, Wilmington, CA 90744
Garden/Low Rise
Property Description
CASH ONLY!!! The Sandison Street Apartments have been very well maintained. Some highlights of the building, located on a corner lot, include 8 parking spaces secured by an automatic gate and newer paint on the interiors and exterior. The on-site manager in the 2 bedroom unit pays $600. The building is under L.A. City Rent Control.
Area Description
The property is located just north of Pacific Coast Highway, east of the 110 Freeway and west of the 710 Freeway in the city of Wilmington.
Highlights
Very Well Maintained Property
Corner Lot
8 Gated Parking Spaces
Newer Paint in all Interiors & Exterior
8.04 GRM
$124 Per Square Foot
$80,833 Per Unit
7.27% Cap Rate
Full Address: 1214 E Sandison Street, Wilmington, CA 90744
Listing Type: FOR SALE
Status: Sold
Building Class: B
Zoning: LAR1
Region: W-WP
County: Los Angeles County
Closest Cross Streets: Pacfic Coast Highway & Avalon Blvd.
Use Type: Investment
Property ID: 126717
Has Water: Yes
Has Electric: Yes
Gas: Yes
Water: Yes
Broadband: Yes
Has Gas: Yes
Building Sf: 3924
Parcel Num: 7426-010-001
Number Units: 6
Number Buildings: 1
Financial Terms: ALL CASH
Year Built: 1960
Free Standing: Yes
Commission Comments: 3% to Selling Agent
Cap Rate: 7.27
Very Well Maintained Property
Corner Lot
8 Gated Parking Spaces
Newer Paint in all Interiors & Exterior
8.04 GRM
$124 Per Square Foot
$80,833 Per Unit
7.27% Cap Rate
Average Monthly Rent - 2 Bed, 1 Bath: 1200
Average Monthly Rent - 1 Bed, 1 Bath: 850
Average Monthly Rent - 1 Bed, 1 Bath: 800
Average Monthly Rent - 1 Bed, 1 Bath: 800
Average Monthly Rent - 1 Bed, 1 Bath: 725
Average Monthly Rent - Single: 650
Cash On Cash: 7.27
Cash Flow Type: Actual
Cf Op Expenses: 22020
Cf Pre Tax: 35265
Cf Effective Gross: 57285
Cf Year: 2014
Cf Sched Income: 60300
Cf Net Op Income: 35265
Debt Type: Proposed
Cf Vacancy: 5