Just Closed: 9 Units | Wilmington, CA

Details

  • Price: 1,500,000
  • Cap Rate: 4.81%
  • GRM: 12.73
  • Cost per SF: $233.50
  • Cost per unit: $166,667
  • Year Built: 1964
  • Square Footage: 6,424
  • Lot Size: 7,234 SF
  • Units: 9
  • No. Stories: 2
  • Parking: 9
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: LARD1.5
  • APN/Parcel ID: 7420-023-022

Just Closed: Palm View Terrace | Wilmington, CA

Invest in Results

lucrumre.com

Agents: Raymond A. RodriguezScotty Weisstein

Team: Lucrum Real Estate Group

Highlights:

+ Exclusively listed & sold by Lucrum
+ Multiple offers generated
+ Sold at 91% of list price
+ ±56% rental upside potential
+ Represented Both Seller & Buyer –  Lucrum Legacy Partners

Regardless of interest rates or market conditions, Lucrum continues to successfully help clients sell and buy investment real estate. We have our finger on the pulse of the market and accurately advise our clients on how to price and position their properties for sale to generate multiple offers and the highest possible value.

Congratulations to our valued clients on their latest acquisition of Palm View Terrace, a 9-unit multifamily investment property located at 203 W Opp St. in Wilmington, CA 90744. Lucrum represented both the Seller and Buyer in this transaction.

The Seller, a Lucrum Legacy Partner, whom we have represented on multiple transactions contacted us to value, list, and market the property for sale. His motivation to sell was to proceed with plans to 1031 exchange into another opportunity.

We developed a marketing campaign that highlighted the investment’s value-add and rental upside potential and shared a custom website with interested parties that included marketing assets such as drone work, photography, video tour, 3D virtual tour, and offering memorandum. Through this process, we were able to attract the best buyers for the property and generate multiple offers for our client’s consideration to guarantee him the best price and buyer for the property.

The Buyer’s motivation was to expand his multifamily investment portfolio and build additional passive income.

We thank ALL involved that helped contribute to a smooth closing!

We love helping our clients accomplish their goals and improve their lives. Contact us and be a part of our next real estate success story!!!

 

By: Lucrum
November 10, 2022

Sales Team

Raymond A. Rodriguez IV

Founding PartnerMultifamily Investment Sales
866.582.7865 ray@lucrumre.com CA License: 01402283 Download Bio

Scotty Weisstein

PartnerMultifamily Investment Sales
818.205.8847 scotty@lucrumre.com CA License: 01483264 Download Bio

Sales Team

Raymond A. Rodriguez IV

Founding PartnerMultifamily Investment Sales
866.582.7865 ray@lucrumre.com CA License: 01402283 Download Bio

Scotty Weisstein

PartnerMultifamily Investment Sales
818.205.8847 scotty@lucrumre.com CA License: 01483264 Download Bio

Details

  • Price: 1,500,000
  • Cap Rate: 4.81%
  • GRM: 12.73
  • Cost per SF: $233.50
  • Cost per unit: $166,667
  • Year Built: 1964
  • Square Footage: 6,424
  • Lot Size: 7,234 SF
  • Units: 9
  • No. Stories: 2
  • Parking: 9
  • Transaction Type: Sold/Closed
  • Property Type: Multifamily
  • Zoning: LARD1.5
  • APN/Parcel ID: 7420-023-022

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