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    822 Marine Ave Los Angeles, CA 90744

    Sponsored
    For Sale
    $8,995,000

    65 Units, High ROI Potential

    Property size:
    34,862 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 65-unit multifamily portfolio in the thriving Wilmington, CA community. Comprising three buildings totaling 34,862 square feet, constructed between 1929 and 1960, this value-add portfolio boasts a current occupancy of 100% and a strong NOI of $555,793. The asking price is $8,995,000, translating to an attractive $138,385 per unit and a current cap rate of 6.18%. Significant upside potential exists, with a pro-forma NOI projected at $831,825 and a pro-forma cap rate of 9.25%, driven by a potential 31% rental increase. The portfolio benefits from its strategic location near the Port of Los Angeles and various industries, fueling high demand for rental housing. The properties are conveniently situated within 0.2 to 0.5 miles of each other, making them ideal for portfolio acquisition, although individual property sales may be considered. Units are primarily studios and one-bedrooms. Recent improvements include new paint, electrical panel upgrades, and new roofs. The portfolio's strong performance, coupled with its substantial upside potential, makes it a compelling investment opportunity in a rapidly growing market. The properties are eligible for 4% annual rent increases. This portfolio offers a rare chance to acquire a well-maintained, high-performing asset with significant future growth prospects in a prime location.

    Property Features for 822 Marine Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    34,862 SF

    Building Details

    Year Built
    1929
    Buildings
    3
    Units
    65

    HighLights

    • Three‑building, 65‑unit (62 + 3 non‑conforming) multifamily portfolio for sale in Wilmington, CA.
    • Portfolio sale preferred; individual building sales considered.
    • Strong rent collection; significant rental upside (30‑33%).
    • Current cap rate 5.81% - 6.71%; market cap rate 8.70% - 9.85%.
    • Current GRM 8.91 - 9.62; market GRM 6.83 - 7.38.
    • Average price per unit: $138,385 (mix of studios and one‑bedrooms).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.26380053546
    Latitude
    33.780659546461

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    FAQs

    What type of property is this?
    Multifamily property - 65 Units, High ROI Potential
    Where is this multifamily property located?
    The property is located at 822 Marine Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $8,995,000.
    What are key features of this property?
    This property features: Three-building, 65-unit (62 + 3 non-conforming) multifamily portfolio for sale in Wilmington, CA.; Portfolio sale preferred; individual building sales considered.; Strong rent collection; significant rental upside (30-33%).
    Request Owner's contact information
    822 Marine Ave Los Angeles, CA 90744
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    Los Angeles, CA 90744
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    822 Marine Ave Los Angeles, CA 90744
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