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$750,000   Price Analysis
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902 Island Ave
Wilmington, CA 90744
8 bed 4 bath 2,936 SqFt ($255/SqFt)
7,502SqFt lot. Built 1953
Listed 2024-07-15, Taxes $2,030		Ⓧ USDA Ineligible
due to location
near Los Angeles

Wonderful Prope rty!!

Large corner lot that has Two Duplex's( all 2 Bedroom 1 Bath) with 3 Garages plus 4 parking spacs, all facing the street. All Units have front and back yards. Under LA Rent Control with low rents(long term tenants). Potential of $2200/mo per unit 7.7 X Gross, could be real money maker!!

Priced at $255/SF which is way lower than all Listings and most Sales!! Nice section of Wilmington. Tenants pay for all utilities!!


Presented by Christine Ballesteros at
RE MAX Estate Properties.


Property MLS #SB24144986 from CRMLS

Bedrooms: 8

Laundry Features: Inside

Full Bathrooms: 4

Lot Description: 2-5 Units/Acre, Corner Lot, Front Yard, Level with Street, Lot 6500-9999
Lot Size Acres: 0.1722222
Lot Size Source: Assessor
Lot Size Square Feet: 7502

Garage Spaces: 3
Parking Total: 7

Number of Units: 4
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Unit-1 Garage Spaces: 1
Unit-2 Garage Spaces: 1
Unit-3 Garage Spaces: 1

Rent Control: Yes

Community Features: Street Lights, Sidewalks

Source Listing Status: Active
County: Los Angeles
Cap Rate: 4.46
Source Property Type: Residential Income
Insurance Expense: 2000.00
Area: 195 - West Wilmington
Source Neighborhood: 195 - West Wilmington
New Taxes Expense: 10000.00
Number of Separate Electric Meters: 4
Number of Separate Gas Meters: 4
Number of Separate Water Meters: 4
Parcel Number: 7416031029
Source System Name: C2C

YearAssessments
Building + Land
Total		Tax
2022$89,442 + $32,361
$121,803		$2,030
2021$87,689 + $31,727
$119,416		$1,991
2020$86,790 + $31,402
$118,192		$2,002
2019$85,089 + $30,787
$115,876		$1,944
2018$83,421 + $30,184
$113,605		$1,798
2017$81,786 + $29,593
$111,379		$1,764
2016$80,183 + $29,013
$109,196		$1,693
2015$78,979 + $28,578
$107,557		$1,674
2014$77,432 + $28,019
$105,451		$1,708
2013$77,083 + $27,893
$104,976		$1,708
2012$75,572 + $27,347
$102,919		$1,729
2010$74,091 + $26,811
$100,902		$1,714
2009$73,713 + $26,675
$100,388		$1,659
2009$73,538 + $26,611
$100,149		$1,659
2008$72,268 + $26,152
$98,420		$1,605
2007$70,851 + $25,640
$96,491		$1,546

Price Changed 2024-08-08
$750,000
CRMLS
Listed 2024-07-15
$810,000
CRMLS

Net Operating Income: 33480.00

Total Square Feet Living: 2936
Year Built: 1953
Building Features: 2
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: front
Property Age: 71
Property Attached: Yes
Building Total Stories: 1
Structure Type: Quadruplex
Year Built Source: Assessor

Sewer: Sewer: Public Sewer, Water Sewer Expense: 0.00
Water Source: Public

Phineas Banning Senior High School is a public high school located approximately 0.9 miles away.
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Sts. Peter And St. Paul is a private elementary and middle school located approximately 0.3 miles away.
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George De La Torre Jr. Elementary School is a public elementary and middle school located approximately 0.3 miles away.
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.