823 Lagoon Avenue
Wilmington, CA 90744
0.17 acres | #IV24147249
Description
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 6.34% / 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/ one-bath unit, and two two-bedroom/one and a half bathroom units.
Property Details
- Lot DescriptionItem610UnitsAcre
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$1,795,000
- MLS #IV24147249
- MLS #IV24147249
- Property SubtypeApartment
- Cost1795000
- Acres0.1725
- Utility SourcePublic
- Year Built1965
- Stories2
- Parking Spaces8
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: ALBERT LE (#IVLEALBER)
Listing Office: LE INVESTMENT GROUP (#IVLEIN)
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