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MULTIFAMILY NEWS
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Private Investors Trade Wilmington Apartment Property in $9.6 Mil Deal

10/28/21

Wilmington Villa, a 44-unit apartment complex in Wilmington, CA, sold for $9.6 mil, or $218k per unit. Built in 1987, Wilmington Villa is located at 808 W Anaheim St, a few blocks east of the 110 Fwy.

Wilmington Villa consists of all one-bedroom units. The property sits on a 17.7k sf lot with onsite laundry, secure covered parking, controlled access and select units with balcony/patios. The property is in central South Bay location with a Walk Score of 90, a Bike Score of 83, and next to public transportation on West Anaheim Street. At the time of the sale the property was 98% occupied and a handful of units benefitted from the CA COVID-19 Rent Relief program.

Kevin Kawaoka, CCIM, with NAI Capital Commercial’s Multifamily Services Group represented the seller and buyer, both private investors, in the transaction.

“The South Bay multifamily market remains among the lowest in inventory for sale and has sustained some of the firmest pricing coming out of the pandemic eviction mortarium,” Kawaoka noted. “This was a truly rare opportunity as there are only 10 other 40+ unit market rate apartment complexes in the area.”






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