823 Lagoon Ave Wilmington, CA 90744
Property profile & analytics
823 Lagoon Ave Wilmington, CA 90744
- Apartment buildings
- 5,301 SF
- 0.17 lot acres
Property ID
US09-8070423
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 823 Lagoon Ave
- Year built
- 1965
- Construction
- WOOD
- Lot size
- 0.17 lot acres
- Property size
- 5,301 SF
- Zone code
- LARD1.5
- Property type
- Apartment buildings
- APN
- 7416-025-027
- APU
- 7416025027
Description
This exceptional 7-unit apartment building in Wilmington, CA presents a compelling investment opportunity. The property, located at 823 N Lagoon Ave, boasts a desirable 6.36% current cap rate and a pro-forma cap rate of 8.26%, promising strong returns. Built in 1965 and extensively renovated in 2023, this two-story building (5,301 sq ft) sits on a 7,512 sq ft lot zoned LARD1.5. The renovation included complete interior unit remodels, a new roof, windows, and drought-tolerant landscaping. Electrical sub-panels were also replaced in May 2024. The unit mix comprises four one-bedroom/one-bath, one two-bedroom/two-bath, and two two-bedroom/one-and-a-half-bath townhome-style units, all featuring updated kitchens, bathrooms, flooring, and ample storage. The building also includes a laundry room and on-site garage parking for seven cars. Architectural drawings for an additional 760 sq ft, two-bedroom/two-bath ADU are included. Currently at 100% occupancy, the property generates a net operating income (NOI) of $114,216, with a pro-forma NOI of $148,298. The asking price is $1,795,000 ($338.62/sq ft and $256,429/unit). Its prime location offers easy access to freeways (110 and 1), Long Beach Harbor, and various amenities, boasting a 98 Walk Score and 86 Bike Score. This turnkey asset is ideal for investors seeking a low-maintenance, high-income-producing property with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- Los Angeles
- State
- California
- Longitude
- -118.268
- Latitude
- 33.7804
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$15,603
$816,000
$389,000
$1,205,000
-
$0.00
$0.00
$0.00
