#SB24207821, Steve Nimeh, Listing Office: eXp Realty of Greater Los Angeles, Inc.

823 N Lagoon Ave Wilmington, CA 90744
Property details
About 823 N Lagoon Ave
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.
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Summary
- MLS Number: SR24206788
- MLS Name: CRMLS
- Office Name: Equity Union
- Office Phone: (818) 581-5829
- Listing Agent: Raymond Rodriguez
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 4:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$1,795,000
823 N Lagoon Ave
$10,000
closing credit¹
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Price information
Property sales
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Tax history
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Nearby schools
4
George De La Torre Jr. Elementary School
Public District PK-5
0.3 mi
•500 Island Ave
4
Gulf Avenue Elementary
Public District KG-5
0.5 mi
•828 W L St
4
Hawaiian Avenue Elementary & Magnet Center
Public District KG-5
0.6 mi
•540 Hawaiian Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $32,752. The majority of Wilmington, CA residents have income less than $<35k annually. Typical family type is married, with kids. Typical level of education for residents in this area is high school diploma.
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Frequently asked questions
About 823 N Lagoon Ave
This home is located at 823 N Lagoon Ave in Wilmington, CA and zip code 90744 in the Wilmington neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since October 5, 2024 and is currently priced at $1,795,000.
In February 2025 more than 212 listings in Wilmington, CA were sold above the asking price. During the same period more than 105 listings were sold at asking price, while more than 280 were sold below. In February 2025 in Wilmington, CA there were 10.8% more homes for sale than in January. While the average time on the market in February 2025 was 44 days, the median list price was $989,396.