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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
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.
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)
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703 W L St
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