Marcus & Millichap is pleased to present 315 West Opp Street, a mixed-use asset in Wilmington, California. Wilmington is located in Los Angeles South Bay region adjacent to the ports of Long Beach and Los Angeles. Over 65 percent of Wilmington housing units are renter-occupied, and the area boasts low vacancy rates.
The offering comprises seven duplexes with all one-bedroom units, a three-bedroom single-family home, and a retail store on a large 21,317-square foot lot. This property is subject to rent control. 315 West Opp Street is securely gated and boasts attractive landscaping, two large shared yards, on-site laundry, and additional storage spaces. Recent substantial capital expenditures include copper plumbing, new electrical, security doors, aluminum windows, new drain lines, tile bathrooms, granite in some units, wall heaters, and individual water heaters.
With current rents approximately 32 percent below market, 315 West Opp Street presents the opportunity for an astute investor to acquire a well-maintained asset and capture substantial potential upside in rents.
