823 Lagoon Avenue Wilmington, CA ^$ 1,895,000

823 Lagoon Avenue

^$ 1,895,000

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823 Lagoon Avenue

Wilmington, CA, 90744

^$ 1,895,000

Bedrooms8 Baths3.1 Sq 5,301

Monthly Estimate*

^$ 13,237

Listed by LE INVESTMENT GROUP

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Multi-Family Home for sale in Wilmington, CA

for $1,895,000 with 8 bedrooms and 3 full baths, 1 half bath. This 5,301 square foot home was built in 1965 on a lot size of 0.1725.

SELLER WILL ENTERTAIN ALL OFFERS. Tremendous upside with a potential for the addition of a two bedroom (App. 760SF) ADU to rear garages, with plans and architectural drawing (see photos). Impressive offering actual CAP Rate of 5.25% / Introducing The Lagoon Flats, an impressive two-story, seven-unit multifamily investment property situated at 823 Lagoon Ave, Wilmington, CA. This charming garden-style apartment building boasts an attractive exterior, encompassing approximately 5,301 square feet within a 7,512 square foot lot, and holds the LARD1.5 zoning designation. Originally constructed in 1965, The Lagoon Flats underwent a tasteful renovation in 2023, featuring remodeled interior units, a new roof, windows, and drought-tolerant landscaping. The unit composition consists of four one-bedroom/one-bath units, one two bedroom/ two-bath unit, and two two-bedroom/one and

Multi-Family Active

Price

^$ 1,895,000

Bedrooms

Full Bath

Half Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Apartment

Lot Size

0.1725

Year Built

1965

Town/City

Wilmington

County/Region

Los Angeles

MLS | Web ID

IV24054268

Days on Market

Features

General

Sewer PublicSewer

Zoning LARD1.5

Garage Spaces 8.0

Pool Features None

Exclusions e

Year Built 1965

Stories 2

Levels Two

Property SubType Apartment

Gross Income 177564.0

Community Features Sidewalks

County Los Angeles

Net Operating Income 112606.0

Operating Expense 61329.0

Insurance Expense 5169.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Garage Y/N Y

Special Listing Conditions Standard

Status Active

Directions Lagoon Avene

City Wilmington

Entry Location Side

View Y/N N

Senior Community Y/N N

Open Parking Spaces 8.0

Total Units 7

MLS Area 699 - Not Defined

Lot Size Square Feet 7514.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Lagoon

Listing Terms Submit

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 1811.0

Home Warranty Y/N N

Fuel Expense 0.0

Trash Expense 7190.0

Water Sewer Expense 8535.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N Y

Days on Market 31

Building Area Units SquareFeet

Standard Status Active

Year Built Source Assessor

Tax Lot 10

Property Sub Type Additional Apartment

Cap Rate 5.94

Exterior

Lot Features RectangularLot

Water Source Public

Total Parking 16.0

Lot Size Area 7514.0

Number of Buildings 1

Spa N

Building Area Total 5301.0

Lot Size Acres 0.1725

Lot Size Units SquareFeet

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 8

Number of Separate Electric Meters 8

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item1CommonWall

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Street Suffix Avenue

Laundry Features CommonArea

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 823

* Excluded Features

List By

Le Investment Group

Broker

(909) 256-7889

Phone

Affordability Calculator

$13,237

Per Month

Monthly Principal & Interest: $13,237
Monthly Property Taxes: --
Monthly Home Insurance: --

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Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Wilmington, CA

Average List Price ^$942,931

Percent of Sale Price 50%

About Wilmington, CA

54,295 Population

4% Since 2002

^$43,549 Median Income

31.8 Median Age

44% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
4/18/2024	$1,895,000	-9.76%	Price Down
3/18/2024	$2,100,000		Listed Price

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823 Lagoon Avenue, Wilmington, CA, 90744 is a Multi-Family Home for sale at $1,895,000 with 5,301 sqft and a lot size of 0.1725. 823 Lagoon Avenue has 8 bedrooms, 3.1 baths, and was built in 1965. The property's zip code is 90744 which is in Wilmington, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 4/30/2024. 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.

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823 Lagoon Avenue

Multi-Family Home for sale in Wilmington, CA

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