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823 Lagoon Ave
Wilmington, CA 90744

$1,795,000 USD

Apartments For Sale • 5,301 SF

Property Details

Property Type Apartments
Total Building Size 5,301 SF
Lot Size 0.17 AC
Building Class C
Year Built 1965
Cap Rate 6.36 %
Zoning LARD1.5

42 Transit Score

90 Walk Score

                
                    Highlights
                
                                Lucrative investment opportunity with a cap rate of 6.36%
                            
                                HACLA’s Section 8 Voucher Payment Standard: $2,407 for a 1-bedroom, $3,052 for a 2-bedroom in this zip code
                            
                                Architectural drawings completed for a 2+2 ADU unit. The unit is not built and the property is being sold only with the drawings
                            
                                Recently renovated apartment building with modern finishes
                            
                                Prime location in the thriving submarket of Wilmington
                            
                                Fully remodeled interiors for all units

Financial Summary (Actual)

Net Operating Income: $114,123 USD (2024)

Cap Rate:	6.36 %
Total Expenses:	$60,838 USD

Amenities

Air Conditioning
Laundry Facilities
Gas Range
Kitchen
Tub/Shower

Public Transportation

Airport	Drive	Walk	Distance
Long Beach (Daugherty Field)	16 min	-	9.1 mi
Los Angeles International	25 min	-	18.2 mi
John Wayne/Orange County	39 min	-	29.3 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	7
Type:	Covered
Included in Rent:	Yes

Raymond A. Rodriguez IV 866-582-7865 Lucrum Real Estate Group | Equity Union

823 Lagoon Ave Wilmington, CA 90744