823 North Lagoon Avenue

Wilmington, CA 90744

$1,895,000
Price
—
Beds
5,301 Sq. Ft.
$357 / Sq. Ft.
5,301
Sq. Ft.
$357
per Sq. Ft.

Description

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...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
  1. Listed by ALBERT LE • DRE #01468313 • Brokerage DRE #01923766 • LE INVESTMENT GROUP • 909-256-7889

Property Details for 823 North Lagoon Avenue

Parking Spaces Total
7
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
5301
Assessor Parcel Number
7416-025-027
Property Attached YN
true

Location

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313
Add your commute
LISTING UPDATED: 04/18/2024 07:13 AM

Property Details for 823 North Lagoon Avenue

StatusActive
MLS #IV24054143
Days on Market45
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
CountyLos Angeles County

Location

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313
Add your commute

Building Information for 823 North Lagoon Avenue

Building/Complex823 N Lagoon AveFloor-Stories2Residences-Pet Policy-Year Built1965Building Size-

Payment Calculator

$11,618 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,342

Property Taxes

$1,276

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 823 North Lagoon Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $177,564
  • Gross Scheduled Income: $177,564
  • Vacancy Allowance: 5379
  • Net Operating Income: $112,606
  • Gross Multiplier: 10.67
  • Cap Rate: 5.94
Expense Details
  • Operating Expense: $61,329
  • Expense Year: $2,023
  • Fuel Expense: $0
  • Electric Expense: $1,811
  • Insurance Expense: $5,169
  • Professional Management Expense: $6,957
  • Trash Expense: $7,190
  • Water Sewer Expense: $8,535
  • Real Estate Tax Expense: $22,729
  • Total Expenses: $61,329
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: 602
  • Tax Census Tract: 2948.20
  • CFD/Mello-Roos Fee: $1,147
  • Tax Lot: 10
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: Side
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Land Use: Multi-Family
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 8
  • Carport Spaces: 7
Property / Structure Info
  • Building Status: Existing
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $7,747
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,250
  • Unit Type Total Rent: $2,250
  • Unit Type Pro Forma: 2250
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,400
  • Unit Type Total Rent: $4,800
  • Unit Type Pro Forma: 2400
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 7
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 823 North Lagoon Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 823 North Lagoon Avenue

Taxable ValueLand$800,000Additions$381,400Total$1,181,400
Tax Record2023$15,316 ($1,276 / month)
Home Facts
Total Finished SqFt5,301 SqFtAbove Grade Finished SqFt5,301 SqFtLot Size7,512 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningLARD1.5CountyLOS ANGELESAPN7416-025-027

Schools near 823 North Lagoon Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 7
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
George De La Torre Jr. Elementary School
PublicK to 7

Phineas Banning Senior High School
Public9 to 12

Avalon High School
Public9 to 12

Harbor Teacher Preparation Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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823 North Lagoon Avenue is a multi-family home for sale in Wilmington, CA 90744. This property was listed for sale on March 12, 2024 by LE INVESTMENT GROUP, it's currently listed at $1,895,000. It has been on the market for a total of 45 days and was last sold on October 27, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include George De La Torre Jr. Elementary School, Phineas Banning Senior High School and Avalon High School. 823 North Lagoon Avenue is a 0-bed, 0-bath, 5,301 sqft multi-family home built in 1965.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.