823 Lagoon Ave, Wilmington CA 90744
Proud to present 823 Lagoon Avenue in Wilmington, California 90744. This is a two-story, 7-unit complex that offers significant potential for the right investor.
7-Unit Multi-Family Residential Income Property
Sales Price: $1,595,000.00 (or target listing price)
Product Category: Real Estate / Income Properties
Prime 7-Unit Multi-Family Investment Opportunity
Looking for a high-performing residential asset to expand your portfolio? This 7-unit property delivers immediate, stable cash flow with significant upside potential. Fully occupied with market rents
Key Features & Financial Highlights
- Turnkey Cash Flow: Generates $175,164/yr in Gross Scheduled Income with an NOI of $122,615/yr.
- Value-Add Upside: Current actual monthly rent is $14,597, with a pro forma projection of $15,400/mo.
- Low Owner Utility Overhead: Separately metered for electric (7 meters) and gas (7 meters).
Unit Breakdown & Rent Roll
| Unit | Configuration | Garages | Current Rent | Pro Forma Rent |
| Unit 1 | 1 Bed / 1 Bath | 1 Garage | $1,950 / mo | $2,000 / mo |
| Unit 2 | 1 Bed / 1 Bath | Off-street | $1,917 / mo | $2,000 / mo |
| Unit 3 | 1 Bed / 1 Bath | 1 Garage | $1,930 / mo | $2,000 / mo |
| Unit 4 | 1 Bed / 1 Bath | Off-street | $1,800 / mo | $2,000 / mo |
| Unit 5 | 2 Bed / 1 Bath | 1 Garage | $2,300 / mo | $2,400 / mo |
| Unit 6 | 2 Bed / 2 Bath | 2 Garages | $2,350 / mo | $2,500 / mo |
| Unit 7 | 2 Bed / 2 Bath | 2 Garages | $2,350 / mo | $2,500 / mo |