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703 W L St 3 Unit Apartment Building $599,000 ($199,667/Unit) 2.79% Cap Rate Wilmington, CA 90744
Investment Highlights
- Property consists of a single-family home and a duplex on a corner lot
- Excellent value-add opportunity: current rents are less than half of market rate
- Offered as part of a portfolio sale of three Wilmington investment properties
- All single-story, two-bedroom/one-bath floor plans
- Property features fenced yards and garage parking
Executive Summary
PROPERTY TOURS AVAILABLE 1/20/2026 AND 1/22/2026. CONTACT LISTING AGENT FOR DETAILS.
Marcus & Millichap is pleased to present to market 703 West L Street, a three-unit multifamily investment property in Wilmington, California. With current rents less than half of market rate and desirable single-story floor plans, this offering is an excellent value-add opportunity in a dense rental submarket. 703 West L Street consists of a two-bed/one-bath single-family home and a duplex with two-bed/one-bath units on a corner lot. The property also offers fenced yards, garage parking and tandem driveway parking spaces. Wilmington continues to be a desirable rental market for investors due to its proximity to the Ports of Los Angeles and Long Beach, major employment hubs, and convenient access to the 110 and 710 freeways. The area benefits from strong and consistent rental demand driven by port-related industries, logistics, healthcare, and ongoing neighborhood revitalization efforts. With limited housing supply and continued investment in the surrounding community, Wilmington remains well-positioned for long-term rental growth, making this property a solid addition to any multifamily portfolio.
703 West L Street is offered as part of a Wilmington portfolio sale along with 1207 Bay View Avenue, a duplex, and 1144 Blinn Avenue, a 12-unit apartment complex. Properties available separately or together.
Marcus & Millichap is pleased to present to market 703 West L Street, a three-unit multifamily investment property in Wilmington, California. With current rents less than half of market rate and desirable single-story floor plans, this offering is an excellent value-add opportunity in a dense rental submarket. 703 West L Street consists of a two-bed/one-bath single-family home and a duplex with two-bed/one-bath units on a corner lot. The property also offers fenced yards, garage parking and tandem driveway parking spaces. Wilmington continues to be a desirable rental market for investors due to its proximity to the Ports of Los Angeles and Long Beach, major employment hubs, and convenient access to the 110 and 710 freeways. The area benefits from strong and consistent rental demand driven by port-related industries, logistics, healthcare, and ongoing neighborhood revitalization efforts. With limited housing supply and continued investment in the surrounding community, Wilmington remains well-positioned for long-term rental growth, making this property a solid addition to any multifamily portfolio.
703 West L Street is offered as part of a Wilmington portfolio sale along with 1207 Bay View Avenue, a duplex, and 1144 Blinn Avenue, a 12-unit apartment complex. Properties available separately or together.
Property Facts
| Price | $599,000 | Apartment Style | Low-Rise |
| Price Per Unit | $199,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 2.79% | Building Size | 1,950 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | ||
| Zoning | LAR1 - Residential | ||
| Price | $599,000 |
| Price Per Unit | $199,667 |
| Sale Type | Investment |
| Cap Rate | 2.79% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 1,950 SF |
| No. Stories | 1 |
| Year Built | 1914 |
| Zoning | LAR1 - Residential |
Amenities
Unit Amenities
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 7415-009-001 | Improvements Assessment | $57,911 |
| Land Assessment | $22,764 | Total Assessment | $80,675 |
Property Taxes
Parcel Number
7415-009-001
Land Assessment
$22,764
Improvements Assessment
$57,911
Total Assessment
$80,675
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703 W L St
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