516 Fries Ave, Wilmington, CA 90744
39 Unit Apartment Building | $16,990,000 ($435,641/Unit) | 5.88% Cap Rate | Wilmington, CA 90744
For Sale
Active
Asking Price $16,990,000
- Property Type
-
Multifamily
- Square Feet
- 28,744 SF
Listing Contacts
Greg Engel
- Property Info
Property Overview
Compass is please to bring to market is listing of 516 N Fries Ave. This incredible property is in the final stages of development and will be sold with a service provider contract direct with the city of Los Angeles. This means this will be a single tenant property where the service provider is responsible for the leasing and running of the property leaving very little landlord responsibilities. Additionally the property will qualify for decreased property taxes due to HUD pass through from having a property leased to a single government agency. The property boasts a long term lease allowing for continued secured investing.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 3
- Lot Size (sq. ft)
- 18,295 SF
- Units
- 39
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