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$ 2,700,000
Est. payment /mo
Pending
10965 Wright Road Lynwood, CA 90262
12,780 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 12,780 sqft
Price per Sqft $211
MLS Listing ID CL26867015
HOA Y/N No
Year Built 1950
Lot Size 0.676 Acres
Acres 0.6764
Property Sub-Type Other
Property Description
We are pleased to present 10965 Wright Road, an11-unit multifamily investment opportunity in Lynwood. Built in1950 & 1962, the property sits on a large 29,465 SF lot with approximately 12,780 SF of gross building area. A diverse unit mix of five two-bedroom/one-bath units, one three-bedroom/two-bath, and five rear four-bedroom/two-bath units caters to a wide range of renter profiles. The oversized 29,465 SF lot offers ample space for future value add potential through ADU development by converting the exterior carports into units (buyer to verify). The property is separately metered for gas and electric. A gated entrance provides tenants with a secure, controlled access living environment. Dual entrances, one at the front and one at the rear of the property, offer added convenience and flexibility in designing future ADU development. On-site community laundry, equipped with two washers and two dryers, contributes to in-place ancillary income alongside utility reimbursements and parking income, with notable additional upside available through renting out more storage to tenants. Offered at $2,700,000 ($245,455/unit, $211/SF), reflecting a7.03% current cap rate and 8.40 GRM on in-place income.
Location
State CA
County Los Angeles
Zoning LYR3*
Interior
Heating None
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 6194005022
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Listed by Neema Ahadian • Marcus & Millichap