126 W D St, Wilmington, CA 90744

Property Description

126 West D Street presents an excellent opportunity to acquire a reliable product type; SRO's perform amazingly well during the toughest of times. This asset is a turnkey 28-unit building with strong in-place cash flow and income security; the majority of tenants' rent is subsidized by agencies, and April rent collections were excellent. Additionally, a new investor may take advantage of attractive assumable financing, and seller may carry back a 10 percent second trust deed for better leverage; contact listing agents for details.
 
 126 West D Street is a 5,544-square foot building constructed in 1918 that features 28 units, common area bathrooms and showers on each floor, as well as a common area kitchen. Recent improvements include a brand new roof, updated electrical and plumbing, updated flooring, and updated units throughout. 
 
 The property is located at the intersection of D Street and Marine Avenue, just three blocks from the $53MM Avalon Promenade and Gateway Project that will connect to the $24MM Wilmington Waterfront Promenade project. The projects, which are slated for completion by 2021, aim to reconnect Wilmington to the ocean and revamp the city’s waterfront by replacing industrial buildings and LADWP storage tanks with open space, a playground, event space, an outdoor classroom, a native plant garden and more.