10965 Wright Road, Lynwood, CA 90262
- $2,700,000
- 33
- BD
- 17
- BA
- 12,780
- SqFt
- List Price
- $2,700,000
- Status
- ACTIVE
- MLS#
- 26867015
- Year Built
- 1950
- Bedrooms
- 33
- Bathrooms
- 17
- Living Sq. Ft
- 12,780
- Lot Size
- 29,465
- Acres
- 0.68
- Days on Market
- 1
- Property Type
- Multifamily
- Stories
- Two Levels
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.
Additional Information
- Heat
- None
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 11
Listing courtesy of Listing Agent: Neema Ahadian (neema@marcusmillichap.com) from Listing Office: Marcus & Millichap.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.