1152 Blinn Ave - Apartments FOR SALE


Wilmington, CA 90744
$1,399,000 USD
424-405-3826
1152 Blinn Ave, Wilmington, CA for Sale
$1,399,000 USD
Apartments - FOR SALE
1/6
null | 6.04% Cap Rate

1152 Blinn Ave
Wilmington, CA 90744


HIGHLIGHTS

  • Major value-add opportunity in a strong Wilmington location directly across from Wilmington Park Elementary
  • 41 Percent rental upside
  • 12-Unit apartment complex consisting of two single-story, five-unit buildings and one two-story duplex
  • All one-bedroom/one-bath units
  • Seven single-car garages
  • Offered as part of a portfolio sale of three Wilmington investment properties

OVERVIEW

Marcus & Millichap is pleased to present to market 1144 Blinn Avenue, a 12-unit apartment complex in Wilmington, California. This offering is a great value-add acquisition opportunity for any investor looking to capture major upside in a strong rental submarket where vacancy rates are consistently low; current rents are 41 percent below market. 1144 Blinn Avenue consists of two single-story, five-unit buildings and one two-story duplex that surround a large courtyard. All 12 units are one-bed/one-bath floor plans separately metered for gas and electricity. The property also offers seven single-car garages accessed via a rear alley. The property is located directly across from Wilmington Park Elementary School. 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. 1144 Blinn Avenue is offered as part of a Wilmington portfolio sale along with 1207 Bay View Avenue, a duplex, and 703 West L Street, a triplex. Properties available separately or together.

FOR SALE DETAILS

PRICE

$1,399,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

12

PRICE/UNIT

$116,583

CAP RATE

6.04%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

LAR2

APN/PARCEL ID

7425-029-003

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.