1004 W Lowen, Wilmington, CA 90744
- $672,800
- List Price
- $672,800
- Status
- ACTIVE
- MLS#
- PV26199770
- Year Built
- 1956
- Lot Size
- 6,248
- Acres
- 0.14
- Lot Location
- 2-5 Units/Acre, Back Yard, Corner Lot, Front Yard, Sprinklers In Rear, Sprinklers In Front, Lawn, Landscaped, Paved, Rectangular Lot, Sprinklers Timer, Sprinkler System, Street Level, Yard
- Days on Market
- 1
- Property Type
- Multifamily
- Style
- Contemporary, Ranch, Traditional
- Property Sub Type
- Quadruplex
- Stories
- One Level
Property Description
This fourplex is a practical Harbor-area income property with a simple, flexible story: four separate one-bedroom homes on one lot, already producing cash flow, in a neighborhood that lives off one of the largest employment engines on the West Coast. Each unit is a self-contained 1BR/1BA home of roughly 600 square feet. That layout is the point. An investor gets four rent rolls instead of one. An owner-user can live in one unit and let the other three help carry the property. An extended family can give parents, adult children, or siblings their own front door, kitchen, and bath while staying on the same parcel. Parking and a usable lot support everyday living rather than a stacked apartment product. The numbers are straightforward. Current gross of $4,865 per month against $1,222 in expenses (NOTE: $392 is for property management fees and $80 for yard maintenance. Some investors may want to increase the net by a commensurate amount) leaves $3,643 net. That is real monthly cash after operations—not a pro-forma hope. Units of this size in Wilmington have rented in the mid-$1,700s; the income already in place shows demand is not theoretical. Built in 1956 on a 6,248-square-foot lot (zoning LARD1.5), the asset is a classic small multifamily building: manageable scale, four meters of opportunity, and room on the lot that many downtown fourplexes simply do not have. Wilmington is a working harbor community, not a resort zip. That is an advantage for this buyer profile. The Ports of Los Angeles and Long Beach sit minutes away and support logistics, warehousing, trades, and shift work that need nearby housing. The 110, 405, and 710, plus Pacific Coast Highway, put jobs, shopping, and the rest of the South Bay within a normal commute. Ken Malloy Harbor Regional Park, Wilmington Waterfront Park, Banning Recreation Center, and Los Angeles Harbor College give residents parks, recreation, and a community-college campus without leaving the Harbor area. Avalon Boulevard and PCH handle daily errands. Compared with Palos Verdes and the Beach Cities, entry pricing here is still more approachable, which is why 1BR product stays rented. This is not a trophy listing. It is a four-door cash-flow building in a job-rich, renter-heavy pocket of the Harbor—useful for an investor who wants income now, an owner-occupant who wants three units to help pay the note, or a family that wants four independent homes on one piece of ground.
Additional Information
- Other Buildings
- Shed(s)
- Appliances
- 6 Burner Stove, Electric Range, Free-Standing Range, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, Self Cleaning Oven, Water Heater
- Pool Description
- None
- Heat
- Natural Gas, Wall Furnace, Zoned
- Cooling
- Yes
- Cooling Description
- Electric, Wall/Window Unit(s), Zoned
- View
- None
- Exterior Construction
- Frame, Glass, Hardboard, HardiPlank Type, Plaster, Stucco
- Roof
- Composition, Shingle
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Ceiling Fan(s), Granite Counters, Laminate Counters, Tile Counters, Unfurnished, All Bedrooms Down, Bedroom on Main Level, Main Level Primary
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $4,865
- Operating Expense
- 1222
Listing courtesy of Listing Agent: George Fotion (george.fotion@homeispalosverdes.com) from Listing Office: Call Realty.
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