720 King, Wilmington, CA 90744
- $1,000,000
- Sold Price
- $1,000,000
- List Price
- $1,100,000
- Closing Date
- May 13, 2026
- Status
- CLOSED
- MLS#
- SB26048458
- Year Built
- 1924
- Lot Size
- 11,218
- Acres
- 0.26
- Lot Location
- Rectangular Lot, Walkstreet
- Days on Market
- 1
- Property Type
- Multifamily
- Property Sub Type
- Triplex
- Stories
- One Level
Property Description
ADU Development Opportunity – 2plex + 3plex on Adjacent Lots ***Rare opportunity to acquire two properties on two side-by-side APNs with a combined lot size of 11,218 SF zoned LARD1.5, offering significant ADU expansion potential. The site configuration and zoning present the possibility to develop 7+ additional ADUs (buyer to verify with city), making this an attractive value-add and long-term unit expansion play. ***The property currently consists of total 5 units. 2 units are vacant, in rent-ready condition, allowing a buyer to lease at market rents while planning future development. Current rents are $1,424, $915, and $688, with additional income from on-site laundry. Investors benefit from existing cash flow while unlocking substantial upside through ADU development, a rare opportunity to significantly increase density and rental income on a large multifamily lot.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $96,324
- Operating Expense
- 93434
Listing courtesy of Listing Agent: Olga Wright (olga@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
Listing sold by Olga Wright from Lyon Stahl Investment Real Estate, Inc.
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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.