$1,595,000
Calculate Payment
Calculate Payment
906 Fries Avenue Wilmington, CA 90744
Apartment
Residence
Beds
Baths
...
Bed/Bath
6,312
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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 vac...ant 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.
Continue reading
MLS#
PW24004528
Property Type
Apartment
Year Built
1928
Square Feet
6,312
sq. ft
Lot Size
0.33
Stories
2.0
Sewer
Public Sewer
Receive an email as soon as the price changes
Receive an email
as soon as the price changes
Get Price Alerts
Don't miss your chance. Receive an email as soon as the price changes.
Enter your work address to view actual drive times with traffic for this property.
Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
How much home can I afford?
Kickstart your home search journey with our online Pre-Approval.
Nearby Homes For Sale
Just Listed
And
Homes Available
In
See How Much You Could Save
Thinking about buying or selling? Talk to one of our Mortgage Professionals today to see how much you could save on your next home. Call us at 833-981-2030.