$250,000
$269,000
7.1%For more information regarding the value of a property, please contact us for a free consultation.
400 SqFt
SOLD DATE : 09/04/2024
Key Details
Sold Price $250,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 400 sqft
Price per Sqft $625
MLS Listing ID SB23198550
Sold Date 09/04/24
HOA Y/N No
Year Built 1871
Lot Size 5,924 Sqft
Acres 0.136
Property Description
Located in the heart of Wilmington, on a corner R2 lot....there are a few possibilities here for a potential developer/buyer. There are essentially 2 sections of the lot, one is contained by a chain link fence by the City to protect the historic monument, one is a large grassy and flat lot which appears to be about 4,000 sq ft (buyer to verify) of area to develop.
The structure itself is a Civil War-era Powder Magazine, built in 1862, used to store gunpowder for the nearby Camp Drum. See link here:
https://en.m.wikipedia.org/wiki/Powder_Magazine_(Camp_Drum).
Current Sellers inherited the property that was purchased in the 1970's as a Duplex. When the Seller went to tear the duplex down to rebuild in the 80's I believe, the powder magazine was discovered and revealed. The City claimed it as a historic monument and the owner decided not to build.
According to my title rep, It was declared a Historical Monument in 1982, but they didn’t record the Resolution until 1994. The document indicates it is Historic-Cultural Monument No. 249. The property is also being sold with Mineral Rights.
Please feel free to do a field trip to drive by and check it out and do not hesitate to reach out to me with any questions, I'll do my best to answer them!
Location
State CA
County Los Angeles
Area 196 - East Wilmington
Zoning LAR2
Rooms
Ensuite Laundry None
Interior
Interior Features All Bedrooms Down
Laundry Location None
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Curbs, Urban
View Y/N No
View None
Private Pool No
Building
Lot Description Corner Lot
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Schools
School District Los Angeles Unified
Others
Senior Community No
Tax ID 7423025029
Acceptable Financing Cash, 1031 Exchange, Submit
Listing Terms Cash, 1031 Exchange, Submit
Financing Cash
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with NONE NONE • None MRML
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "