823 N Lagoon Avenue

Wilmington, CA 90744

  • 0 Bed(s)
  • 0 Bath(s)
  • 5,301 Sqft
  • 7512
    Sqft(Lot)
$1,795,000

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 6.36% cap rate, and attractive day-1 cash flow for an investor looking to acquire a low-maintenance stabilized asset.



aesthetically, the property gushes with pride of ownership, and charm and offers some of the nicest apartment rentals in wilmington for a few lucky tenants to be proud to call their home.



the sapphire crest is ideally located in a desirable residential community of wilmington within los angeles county, offering residents easy access to a host of amenities and nearby cities. situated near cities like long beach, san pedro, carson, torrance, and lakewood, this property benefits from a convenient location within proximity to various shopping centers, restaurants, entertainment venues, and recreational facilities. the building is a short distance drive to the 110 and 1 freeways. it is a roughly 15-minute drive to long beach harbor and the queen mary.



the property itself boasts a 98 walk score and 86 bike score as it is near many stores and restaurants.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Residential Income

  • AD ID

    47108206

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

  • Building Information

    • Year Built: 1965
    • Building Area Total: 5,301

    Pool Features

    • None

    Laundry Features

    • Common Area

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1725
    • Lot Size Source: Public Records
    • Lot Size Square Feet: 7512

  • Listing Price Information

    • Original List Price: 1,795,000
    • Listing Contract Date: 2024-10-04

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 7416025027

  • Garage and Parking

    • Garage Description: Garage

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 195 - West Wilmington
    • Postal Code Plus 4: 4352
    • Directions: 823 N Lagoon Ave. Wilmington, CA 90744
    • Zoning: LARD1.5
    • Source Property Type: Residential Income
    • Area: 195 - West Wilmington
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 59
    • Common Walls: 2+ Common Walls
    • Structure Type: Apartment
    • Year Built Source: Public Records
    • Entry Level: 1
    • Entry Location: 1
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 11/05/2024 @ 01:40

  • MLS: SR24206788
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 5,301 sqft, 7,512 sized lot, and 7 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Wilmington , in zip code 90744, this Los Angeles County Home are nearby neighborhoods.