303 E Denni St
Wilmington, CA 90744
Denny Apt Bldg · Multifamily Property For Sale · 28 Units

Marcus & Millichap is pleased to present to market 303 East Denni Street, a well-maintained 28-unit apartment building in Wilmington, California. The property is located one mile from two major developments that will revamp Wilmington’s waterfront by replacing industrial buildings with parks. The projects total 22 acres and $77 Million, and are both slated for completion in 2021. 303 East Denni Street consists of a 1972 construction building with 28 one-bed/one-bath units that are separately metered for electricity. The property also offers a spacious community room with a kitchen and bathroom, a landscaped inner courtyard and ample parking with storage, consisting of 20 tuck-under spaces, 4 open spaces and a two car garage. Seller has obtained plans and permits for the seismic retrofit and will pay for the seismic retrofit at an approximate cost of $176,000. This offering presents a great opportunity for an investor to acquire an asset in a redeveloping area of the South Bay, add value and capture over 26 percent rental upside.