1114 Eubank Ave, Wilmington, CA 90744

Property Description

*** The Eubank is offered for sale as part of 3 building, 24 unit Wilmington portfolio that may be purchased collectively or individually. *** Lucrum Real Estate Group is proud to present The Eubank, a multifamily investment property totaling 8 units located at 1114 Eubank Ave. Wilmington, CA 90744. This cozy  8-unit apartment building was built in 1956. The apartment building is 2 stories and offers 8 two-bedroom/one-bath units. The building construction is of wood frame with a slightly pitched roof and painted stucco exterior. The total building square footage is ±4,664 on a ±7,878 square foot lot zoned LAR1. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add asset with significant rental upside potential. Common area amenities include a laundry room and 8 on-site parking spaces. Each unit is separately metered for gas & electricity. Aesthetically, the asset is tucked behind a tree giving it more curb appeal and sense of privacy.  The property grounds and building are reasonably kept and maintained. The building has driveway entry off of Eubank Ave. 1114 Eubank Ave. is located in a highly urbanized community of Wilmington within Los Angeles County in a community among other apartment buildings and near commercial strip centers on the main thoroughfare of Anaheim St. The building is a short distance drive to the 110 and 1 Fwys. It is roughly 15 minutes driving to the Long Beach Harbor and the Queen Mary. Nearby destinations include Los Angeles Harbor College and Ken Malloy Harbor Regional Park which is approximately two and a half miles away for residents to enjoy some recreation time.  Residents can also stroll to the Banning museum to view the Greek Revival-Victorian home. The property itself has a 65 walk score and 79 bike score as it is in reasonable distance to many stores and restaurants. Property Highlights + ±79% rental upside + Part of a 3 Building, 24 Unit Wilmington Portfolio + Curb Appeal + Attractive unit composition of all 2BR units + Cozy units + On a tree-lined quiet street + Value-add opportunity + Strong rental market + Central location + Proximity to freeway access