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$100K Price Reduction!! Priced well below the cost of replacement, this unique 8 units Apartment Building with ALL 2 Bedroom units has amazing long term upside potential with current rents far below market (approximately 40% upside in rents). Although the asset is subject to LA City Rent Control, the positive side of owning this asset is exceptionally low turnover, low move out, low maintenance expenses, ease of management, and downside protection - (when or if) standard market rents / vacancies pose a challenge to keep up with, these rents can only go UP (most likely). Upgrades & Attributes: The asset has an exceptional units mix with all 2 Bedrooms that are larger than the normal size for the area. All electrical panel have been replaced (2025), the SB721 Balcony Inspection has been completed (2025), New Roof (2020) and still under warranty, NO Soft Story Construction (this is an obstacle with many buildings in CA and not a variable with this asset as all parking is open - no tuck under parking). Large Laundry Room (4 machines) on MTM Lease with WASH, separate utility meters for gas and electric, and most of the building appears to be copper plumbed (Buyer to verify). Area: Gateway to Los Angeles: Wilmington is a neighborhood in Los Angeles, California with a population of 51,815. Wilmington is in Los Angeles County. Living in Wilmington offers residents a dense suburban feel and most residents rent their homes. In Wilmington there are a lot of coffee shops and parks. The public schools in Wilmington are considered above average.
Property Type(s):
Residential Income
| Last Updated | 3/9/2026 | Year Built | 1958 |
|---|---|---|---|
| Community | 196 - East Wilmington | County | Los Angeles |
Price History
| Prior to Jan 30, '26 | $1,595,000 |
|---|---|
| Jan 30, '26 - Mar 9, '26 | $1,495,000 |
| Mar 9, '26 - Today | $1,395,000 |
Additional Details
| AREA | 196 - East Wilmington |
|---|---|
| HEAT | Natural Gas |
| LOT | 8485 sq ft |
| LOT DIMENSIONS | 8485 |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
Location
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Listed with The Holstein Group
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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