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$ 2,050,000
Est. payment /mo
Price Dropped by $145K
1001 & 1005 W G ST Wilmington, CA 90744
22 Beds
12 Baths
8,182 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 8,182 sqft
Price per Sqft $250
MLS Listing ID 26646247
Bedrooms 22
HOA Y/N No
Year Built 1958
Lot Size 9,334 Sqft
Property Description
Price just reduced $145,000! We are pleased to present our latest investment opportunity: 1001 & 1005 West G Street. Located in the heart of Wilmington, this twelve unit property offers an attractive unit mix of ten spacious two bedroom units and two well proportioned one bedroom units. As an investment, this is a genuine value add opportunity. The units are clean,functional, and currently rented at solid levels, yet they lack the contemporary finishes that drive premium rents in the area. This creates a compelling 53% rental upside for a new owner to capture through strategic improvements, organic unit turns, targeted rent increases, or even potential cash for keys agreements. The property has benefited from years of professional, detail oriented management, with a strong emphasis on long term building health. Several major capital improvements have already been completed, significantly reducing near term maintenance exposure: The entire electrical infrastructure has been modernized from top to bottom, enhancing safety, improving reliability, and reducing future capital risk. Each unit is separately metered with individual water heaters, improving NOI and simplifying operations. There is secure, Gated Parking Controlled access and improved lighting enhance tenant satisfaction and retention. Beyond the physical asset, the economic fundamentals of the immediate area are exceptionally strong. Wilmington sits adjacent to the Port of Los Angeles and Port of Long Beach, which together form the largest container port complex in North America. This port system is not only a global logistics hub it is also the largest employment engine in the region, supporting nearly 230,000 jobs locally and more than 3 million jobs nationwide. These ports handle over 16 million TEUs annually, underscoring their scale and long term economic relevance. This concentration of port driven employment creates a stable, blue collar tenant base with consistent housing demand. The broader Los Angeles/Long Beach metro area also maintains a labor force of over 5 million workers, with more than 4.7 million employed as of the latest data. This deep and diverse employment pool further reinforces the reliability of rental demand in Wilmington. With a Walk Score of 86, the property offers excellent access to nearby retail, entertainment, and transit options - a strong complement to the steady employment base generated by the ports and surrounding industrial corridor. For investors seeking a building with clear, actionable upside, strong in place capital improvements, and proximity to one of the most economically resilient employment centers in the country, 1001 & 1005 West G Street is a standout opportunity.
Location
State CA
County Los Angeles
Area 195 - West Wilmington
Zoning LAR3
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features Controlled Entrance
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7416012017
Special Listing Condition Standard
Listed by Joshua Cohen Keller Williams Realty #01346713