65-unit Wilmington Apartment Portfolio

We are proud to present for sale a 3-building, 65-unit multifamily portfolio located in the Los Angeles Harbor community of Wilmington. Priced to sell at an attractive combined 6.49% CAP rate and $138,385 per unit for mostly one-bedroom and studio units, these properties maintain a high occupancy rate, strong rental collections, and are professionally managed. Given the properties’ proximity to each other of 0.2 to 0.5 miles, they are ideal as a portfolio purchase, however, the properties may be purchased separately. In addition to the portfolio’s going-in CAP rate of 6.49%, there is approximately 27% rental upside resulting in a proforma CAP rate of 9.25%. All three properties are also eligible for 4% annual rent increases.
Wilmington is a Los Angeles harbor community in South Bay adjacent the Port of Los Angeles, one of the busiest container ports in North America. Wilmington spans over nine square miles and shares borders with Carson to the north, Long Beach to the east, San Pedro to the south and west and Harbor City to the northwest. Wilmington is home to multiple industries of trade and corporate giants such as Air Liquide Electronics and Valero Refining Company. Local colleges include the Los Angeles Harbor College located in Wilmington which is one of two public community colleges serving the South Bay. Wilmington’s growing population and local workforce continues to fuel the demand for rental housing and affordable units in which this lucrative apartment portfolio distinctly offers.