1114 Eubank Avenue

Description

*** The Eubank is offered for sale as part of 3 building, 24 unit Wilmington portfolio that may be purchased collectively or individually. *** We are proud to present The Eubank, a charming 8-unit apartment building located at 1114 Eubank Ave. Wilmington, CA 90744. This well-maintained property offers a pro-forma cap rate of 12.11% and boasts an impressive 96% rental upside potential, presenting a lucrative opportunity for investors looking to acquire a value-added asset. The 2-story building was built in 1956 and is constructed of wood frame and stucco exterior with natural wood accent. The property was recently renovated in 2023, offering numerous improvements including a new roof, fresh exterior paint, new windows, modern light fixtures, two new staircases, cedar siding, and beautifully landscaped drought-resistant grounds. The total lot square footage is ±7,878 sq. ft. Building square footage totals ±4,664 sq. ft. with a zoning classification of LAR1. Each of the spacious units features two bedrooms and one bathroom, providing comfortable and functional living spaces for residents. Common area amenities include a laundry room and 8 on-site parking spaces. Each unit is separately metered for gas & electricity. Aesthetically, the property grounds and building offer tremendous charm and curb appeal. The building is accessible off a driveway entry off Eubank Ave. 1114 Eubank Avenue is situated in the vibrant residential community of Wilmington within Los Angeles County. This apartment building benefits from a prime location within proximity to various amenities and attractions. It is near commercial strip centers on the main thoroughfare of Anaheim St. The apartment building is a short distance drive to the 110 and 1 Fwys. It is roughly 15 minutes drive to Long Beach Harbor and the Queen Mary. The property itself has a 65 Walk Score and 79 Bike Score as it is within reasonable distance to many stores and restaurants. The surrounding area offers a harmonious blend of residential tranquility and urban conveniences. Property Highlights: + Pro-forma cap rate of 12.11% + 96% rental upside potential + Charming apartment building with 8 two-bedroom/one-bath units + New roof, windows, and staircases + Recently renovated exterior with modern improvements + Convenient on-site parking and laundry room

Listing information courtesy of: Raymond Rodriguez, Keller Williams Realty Calabasas . *Based on information from the Association of REALTORS/Multiple Listing as of 11/13/2024 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.