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823 Lagoon Ave
Wilmington, CA 90744

$1,650,000 USD

Apartments For Sale • 5,301 SF

Property Details

Property Type Apartments
Total Building Size 5,301 SF
Lot Size 0.17 AC
Building Class C
Year Built 1965
Cap Rate 6.80 %
Zoning LARD1.5

42 Transit Score

92 Walk Score

                
                    Highlights
                
                                Strong Cash Flow: ~$177,648 annual income; ±6.8% cap rate; ±6.38% cash-on-cash return
                            
                                Attractive Value: ±9.29 GRM; competitive price per unit vs replacement cost
                            
                                Stable Financing: ~1.20x debt coverage supports cash flow stability
                            
                                Turnkey Condition: 2023 renovation & 2024 upgraded electrical systems minimize near-term capex
                            
                                ADU Upside: ±760 SF two-bedroom, two-bath ADU plans included for future income growth
                            
                                Expense Control & Operational Efficiency: Separately metered gas and electricity reduce owner-paid utilities

Financial Summary (Actual)

Net Operating Income: $112,227 USD (2026)

Cap Rate:	6.80 %
Total Expenses:	$60,092 USD

Amenities

Laundry Facilities
Kitchen
Range
Tub/Shower

Public Transportation

Airport	Drive	Walk	Distance
Long Beach (Daugherty Field)	17 min	-	9.1 mi
Los Angeles International	26 min	-	18.1 mi
John Wayne/Orange County	39 min	-	29.3 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	7
Type:	Covered
Included in Rent:	Yes

Raymond A. Rodriguez IV Lucrum Real Estate Group | Equity Union

823 Lagoon Ave Wilmington, CA 90744