823 N Lagoon Avenue
Wilmington, CA 90744
- – beds
- – baths
- – sqft
- 7,512 sqft lot
- 1965 build
- – on site
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.
Last checked:
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Checking…
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Last updated Dec 7, 2024
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MLS# SR24206788 —
The Building
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Year Built:1965
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Year Built Source:Public Records
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New Construction:No
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Building Area Total:5301.00
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Building Area Units:Square Feet
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Total Number Of Units:7
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# of Buildings:1
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:7
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# of Separate Electric Meters:7
Interior
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Levels:Two
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Entry Location:1
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Laundry:Common Area
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Laundry:1
Location
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Directions:823 N Lagoon Ave. Wilmington, CA 90744
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Latitude:33.78040400
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Longitude:-118.26788800
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Zoning:LARD1.5
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Lot Features:Lot 6500-9999
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Lot Size Area:7512.0000
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Lot Size Acres:0.1725
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Lot Size SqFt:7512.00
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Lot Size Source:Public Records
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Block:B
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Tax Census Tract:2948.20
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Tax Lot:10
The Listing
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Special Listing Conditions:Standard
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Parcel Number:7416025027
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Golf, Watersports
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking:Yes
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Parking:Garage
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Parking Spaces:7.00
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Garage Spaces:7.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/5/24
Dec 5, 2024
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Listed / Active | CRMLS_CA | $1,795,000 | |
|
11/8/24
Nov 8, 2024
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Sold Subject To Contingencies | CRMLS_CA | $1,795,000 | |
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10/4/24
Oct 4, 2024
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Listed / Active | CRMLS_CA | $1,795,000 | 49.6% (25.6% / YR) |
