844 King Avenue

Wilmington, CA 90744

$1,568,000
Price
16
Beds
8
Baths
5,376 Sq. Ft.
$292 / Sq. Ft.
5,376
Sq. Ft.
$292
per Sq. Ft.

Description

For the first time in over 20 years, this exceptional 8-unit property in Wilmington is available for sale! Situated on a generous 7,011-square-foot lot, the building comprises eight 2-bedroom, 1-bathroom units, each approximately 672 square feet, totaling 5,376 square feet of rentable living space. This property offers convenient community laundry facilities and an open parking lot for tenants, ensuring ample parking space. Fully occupied and generating consistent rental income, each tenant pays...For the first time in over 20 years, this exceptional 8-unit property in Wilmington is available for sale! Situated on a generous 7,011-square-foot lot, the building comprises eight 2-bedroom, 1-bathroom units, each approximately 672 square feet, totaling 5,376 square feet of rentable living space. This property offers convenient community laundry facilities and an open parking lot for tenants, ensuring ample parking space. Fully occupied and generating consistent rental income, each tenant pays for their own gas and electricity, while the owner covers water and trash expenses. Properties of this caliber, especially with long-standing tenant occupancy, are rare in Wilmington’s competitive market. This is a prime investment opportunity that won’t last long!
  1. Listed by Sophia De La Vara • DRE #01127097 • Brokerage DRE #01218499 • Berkshire Hathaway HomeServices California Properties • 562-755-9650

Property Details for 844 King Avenue

View
None
Parking Spaces Total
8
Private Pool
No
Cooling Type
None
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5376
LISTING UPDATED: 12/10/2024 04:21 AM

Property Details for 844 King Avenue

StatusActive
MLS #TR24226690
Days on Market15
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1960
Lot Size0.16 AC / 7,011 SF
CountyLos Angeles County

Building Information for 844 King Avenue

Stories2Residences-Year Built1960Building Size-Lot Size0.16 AC / 7,011 SF

Property Information for 844 King Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $113,004
  • Gross Scheduled Income: $113,004
  • Gross Equity: $0
  • Vacancy Allowance: 4412
  • Vacancy Allowance Rate: 4
  • Gross Operating Income: $105,892
  • Net Operating Income: $72,292
  • Laundry Income: $2,400
  • Gross Multiplier: 13.59
  • Cap Rate: 4.61
Expense Details
  • Operating Expense: $48,112
  • New Taxes Expense: $19,600
  • Pest Control Expense: $300
  • Insurance Expense: $4,699
  • Maintenance Expense: $2,467
  • Professional Management Expense: $5,000
  • Workmans Compensation Expense: $0
  • Other Expense: $15,431
  • Other Expense Description: Utilitys
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $43,112
Tax / Assessment Info
  • Tax Block: C
  • Tax Tract Number: 294...
  • Tax Census Tract: 2943.02
  • Tax Lot: 1
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Curbs
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community, Individual Room
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Roof: Composition
  • Entry Location: 1
  • Fence: No
  • Fence: None
  • Fencing: None
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Spa Features: None
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: None
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: None
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,134
  • Unit Type Total Rent: $1,134
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,181
  • Unit Type Total Rent: $1,181
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,167
  • Unit Type Total Rent: $1,167
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,159
  • Unit Type Total Rent: $1,159
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,000
  • Unit Type Total Rent: $1,000
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,204
  • Unit Type Total Rent: $1,204
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,167
  • Unit Type Total Rent: $1,167
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,400
  • Unit Type Total Rent: $1,400
  • Unit Type Pro Forma: 1550
  • Unit Type Type: 8
Unit Information
  • Number Of Units Leased: 8
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 844 King Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 844 King Avenue

Taxable ValueLand$170,516Additions$147,477Total$317,993
Tax Record2024$4,985 ($415 / month)
Home Facts
Total Finished SqFt5,376 SqFtAbove Grade Finished SqFt5,376 SqFtLot Size7,011 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLAR1CountyLOS ANGELESAPN7416-013-001

Schools near 844 King Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Gulf Avenue Elementary School
PublicK to 5

Scholarship Prep - South Bay
CharterK to 8

Phineas Banning Senior High School
Public9 to 12

Harbor Teacher Preparation Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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844 King Avenue is a mixed use property for sale in Wilmington, CA 90744. This property was listed for sale on November 7, 2024 by Berkshire Hathaway HomeServices California Properties, it's currently listed at $1,568,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Gulf Avenue Elementary School, Scholarship Prep - South Bay and Phineas Banning Senior High School. 844 King Avenue is a 16-bed, 8-bath, 5,376 sqft mixed use property built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway HomeServices California Properties, Sophia De La Vara, DRE #01127097

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.