Tremendous upside with a potential for the addition of a two bedroom (App. 760SF) ADU to rear garages, with plans and architectural drawing (see photos). Impressive offering actual CAP Rate of 6.34% / 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/ one-bath unit, and two two-bedroom/one and a half bathroom units.
Number of Units : 7
Unit 1 : Number of Unit(s) : 1
Unit 1 : Total Bedrooms : 1
Unit 1 : Total Bathrooms : 1
Unit 2 : Number of Unit(s) : 2
Unit 2 : Total Bedrooms : 2
Unit 2 : Total Bathrooms : 1
Unit 3 : Number of Unit(s) : 3
Unit 3 : Total Bedrooms : 2
Unit 3 : Total Bathrooms : 2
Parking Garage Unit 1 : Assigned
Site : Curbs
Zoning : Assessor
Street Address: Address not disclosed
City: Wilmington
State: California
Postal Code: 90744
County: Los Angeles
MLS Number: IV24147249
Courtesy of LE INVESTMENT GROUP
City: Wilmington
State: California
Postal Code: 90744
County: Los Angeles
MLS Number: IV24147249
Courtesy of LE INVESTMENT GROUP
Courtesy of Build Realty
