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$ 1,695,000
Est. payment /mo
Price Dropped by $100K
823 N Lagoon Avenue Wilmington, CA 90744
5 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24206788
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present The Sapphire Crest, a stunning 2-story, 7-unit multifamily investment property located at 823 Lagoon Ave. Wilmington, CA. This garden-style apartment building boasts curb appeal, totals 5,301 building square feet on a 7,512 square foot lot, and is zoned LARD1.5. The property was built in 1965 and tastefully renovated in 2023, including a remodel of all interior units, a new roof, windows, and drought-tolerant landscaping. In addition, all the electrical sub-panels are new and recently installed in May 2024. The unit mix is comprised of 4 one-bedroom/one-bath units, 1 two-bedroom/two-bath unit, and 2 two-bedroom/one and one half-bath townhome-style units. These well-appointed apartment units include wall A/C units, new flooring, kitchens, bathrooms, and plenty of cabinet and storage space. In addition, drawings have been completed for an ADU comprised of 1 two-bedroom/two-bath unit totaling 760 square feet. The building construction is comprised of a wood frame and stucco exterior with brick accents, a flat roof, and a freshly painted exterior. The property is separately metered for gas & electricity. Building amenities include laundry room and garage parking for 7 cars on-site via 2 two-car garages and 3 one-car garages. This investment opportunity presents an ideal turnkey, high-income-producing asset with stabilized rents, a 6.81% cap rate, and attractive day-one cash flowperfect for an investor seeking a low-maintenance, stabilized asset. The Seller is highly motivated and all reasonable offers will be considered, making this a compelling opportun
Location
State CA
County Los Angeles
Zoning Public Rec
Direction 823 N Lagoon Ave. Wilmington, CA 90744
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 7416025027
Virtual Tour https://youtu.be/kwt-A7JqsW4
Listed by Raymond Rodriguez Equity Union