12-Unit Apartment
1001 & 1005 West G St., Wilmington, CA 90744
For Sale
$1,943,700
Professionally managed and fully occupied, with a two-bedroom majority and on-site laundry income.
Property Size8,182 SF
Days on Market47
Property Features for 1001 & 1005 West G St.
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Amenities
on-site laundry
• Excellent unit mix of mostly 2 bedrooms • Approximately 46% rental upside • Pride of ownership • New electrical panels • Recently replaced interior electric and meters • Separately metered utilities
• New railings • Recently painted • 10-year-old roof • Newly asphalted driveway and parking lot • On-site, gated parking • On-site laundry
• Gated entry • Professionally managed • Strong rent collections
Building Details
Building Size
Year Built
Units
Listing Agency:
Los Angeles Office
Listed By:
Aaron Fierstein
(310) 909-5477
Source:
Marcusmillichap
Added: Sep 24
Changed: Nov 7
Last Checked: Nov 8 at 2:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Los Angeles Office
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Investment Insights
Based on property information with market context.
Two adjacent parcels contain 12 apartments: 10 two-bedroom, one-bath units and two one-bedroom, one-bath units. The property was built in 1958 and has on-site laundry. Improvements include updated electrical panels and interior wiring and meters, new railings, a resurfaced driveway and parking area, a painted exterior, and a roof replaced within the past 10 years. The same ownership has operated the property for almost 40 years, and management is professional. The units are fully occupied, with approximately 46% rental upside stated for the property.
Located in Wilmington within the City of Los Angeles, the property is subject to the city’s Rent Stabilization Ordinance, which currently allows annual rent increases of 3%. The surrounding area offers access to employers, shopping, and recreation, with the Ports of Los Angeles and Long Beach identified as nearby major employers.
Located in Wilmington within the City of Los Angeles, the property is subject to the city’s Rent Stabilization Ordinance, which currently allows annual rent increases of 3%. The surrounding area offers access to employers, shopping, and recreation, with the Ports of Los Angeles and Long Beach identified as nearby major employers.
Key Highlights
- 12 units across two adjacent parcels: 10 two‑bedroom, one‑bath units and two one‑bedroom, one‑bath units
- Fully occupied and professionally managed
- Approximately 46% rental upside, plus on‑site laundry income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,171
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,123,420
$3.1M
Cap Rate 7%
$2,231,014
$2.2M
Cap Rate 9%
$1,735,233
$1.7M
Market Conditions
NOI Build-Up for 8,182 SF
Gross rent
$294.6K $36.00/SF
− Vacancy
−$10.6K −$1.30/SF
EGI
$283.9K $34.70/SF
− OpEx
−$127.8K −$15.62/SF
NOI
$156.2K $19.09/SF
Area
Orange County, CA
Vacancy
3.60%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,123,420
Cap Rate 7%
$2,231,014
Cap Rate 9%
$1,735,233
Alternative Uses
Best Use
Apartment 5plus
$2.23M
$1.95M – $2.60M
NOI $156,171 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,126 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
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Business Placement
Demographics for 90744, CA
53,074
Population
15,536
Households
3.4
Avg Household Size
33
Median Age
9%
College-Educated
62%
High-School Grad
8.9 sq mi
ZIP Area
5,963
Density / Sq Mi
$61,440
Median Household Income
$32,781
Median Earnings
$1,426
Median Rent
$596,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Orange County, CA
Properties on Market for Apartment buildings in Orange County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Professionally managed and fully occupied, with a two-bedroom majority and on-site laundry income.
Where is this apartment building located?
The property is located at 1001 & 1005 West G St. Wilmington, CA.
What is the asking price?
The asking price for this property is $1,943,700.
What are key features of this property?
This property features: 12 units across two adjacent parcels: 10 two‑bedroom, one‑bath units and two one‑bedroom, one‑bath units; Fully occupied and professionally managed; Approximately 46% rental upside, plus on‑site laundry income
