1603 Lagoon Avenue, Wilmington, California 90744, Wilmington, 90744 - bed, bath
ACTIVE$1,230,000
1603 Lagoon Avenue, Wilmington, California 90744
0Bed
0Bath
2,660Sqft
5,550Lot
Price Vs. Estimate
The estimated value ($1,118,233.95) is $111,766.05 (9%) lower than the list price ($1,230,000). This property may be overpriced.
Key pros and cons
Top Pros:
Multi-Unit Income Potential: The property features two distinct units (3 bed/1 bath and 5 bed/3 bath), offering significant rental income potential or flexible multi-generational living arrangements.
Top Cons:
Age of Property: Built in 1929, the property is nearly a century old, which may imply potential for older infrastructure, plumbing, or electrical systems that could require future attention despite recent cosmetic renovations.
Compared to the nearby listings
Price:$1.23M vs avg $695.8K (+$534,250)98%
Size:2,660 sqft vs avg 1,185 sqft94%
Price/sqft:$462 vs avg $55715%
More Insights
Built in 1929 (96 years old).
Condition: Despite being built in 1929, the property has undergone recent renovations as stated in the description, including updated kitchens and bathrooms. The images show modern laminate flooring, fresh paint, and updated light fixtures. One bathroom features a contemporary walk-in shower and vanity, while the other is clean and functional, though with a slightly older aesthetic. The kitchen appears updated with modern appliances (black refrigerator visible). The main drawback preventing an 'Excellent' score is the visible window AC units, indicating a lack of central air conditioning. Overall, the property is move-in ready with well-maintained, recently updated components.
Year Built
1929
Close
-
List price
$1.23M
Original List price
$1.23M
Price/Sqft
$462
HOA
-
Days on market
-
Sold On
-
MLS number
IG25072372
Home ConditionGood
Features
Patio
View-
About this home
Situated in the heart of Wilmington, this property consists of two units, each with its own unique features. The front unit offers three bedrooms and one bathroom, while the rear unit provides five bedrooms and three bathrooms. Both units are equipped with laundry hookups and are conveniently located near schools, employment opportunities, major highways, and public transportation. This rare opportunity is unlikely to last long. The property has undergone recent renovations, including new fixtures, updated kitchens, and bathrooms, as well as the addition of fruit trees and extensive parking facilities, including a two-car detached garage. This property can be utilized as a primary residence, with the potential to construct an Accessory Dwelling Unit (ADU) for additional income. Thank you for considering this opportunity, and good luck.
Nearby schools
4/10
Fries Avenue Elementary School
Public,•K-5•0.5mi
4/10
Broad Avenue Elementary School
Public,•K-5•0.5mi
6/10
Gulf Avenue Elementary School
Public,•K-5•0.6mi
3/10
George De La Torre Jr. Elementary School
Public,•K-5•1.4mi
4/10
Normont Elementary School
Public,•K-5•1.4mi
4/10
Wilmington Park Elementary School
Public,•K-5•1.4mi
4/10
Hawaiian Avenue Elementary School
Public,•K-5•1.4mi
6/10
Harbor City Elementary School
Public,•K-5•2.0mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•2.7mi
9/10
Taper Avenue Elementary School
Public,•K-5•2.9mi
5/10
Del Amo Elementary School
Public,•K-5•3.2mi
2/10
Barton Hill Elementary School
Public,•K-6•3.6mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•19.2mi
5/10
Wilmington Middle School
Public,•6-8•0.3mi
8/10
Harry Bridges Span
Public,•K-8•0.7mi
6/10
Alexander Fleming Middle School
Public,•6-8•2.5mi
4/10
Hudson K-8
Public,•K-8•2.8mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•3.5mi
4/10
Richard Henry Dana Middle School
Public,•6-8•4.7mi
5/10
Phineas Banning Senior High School
Public,•9-12•0.4mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•2.3mi
3/10
Cabrillo High School
Public,•9-12•3.0mi
6/10
San Pedro Senior High School
Public,•9-12•4.8mi
Price History
Date
Event
Price
02/04/98
Sold
$141,500
06/01/94
Sold
$48,000
Condition Rating
Good
Despite being built in 1929, the property has undergone recent renovations as stated in the description, including updated kitchens and bathrooms. The images show modern laminate flooring, fresh paint, and updated light fixtures. One bathroom features a contemporary walk-in shower and vanity, while the other is clean and functional, though with a slightly older aesthetic. The kitchen appears updated with modern appliances (black refrigerator visible). The main drawback preventing an 'Excellent' score is the visible window AC units, indicating a lack of central air conditioning. Overall, the property is move-in ready with well-maintained, recently updated components.
Pros & Cons
Pros
Multi-Unit Income Potential: The property features two distinct units (3 bed/1 bath and 5 bed/3 bath), offering significant rental income potential or flexible multi-generational living arrangements.
Recent Renovations: Both units have undergone recent renovations, including updated kitchens, bathrooms, and new fixtures, enhancing their appeal and reducing immediate maintenance needs for a new owner.
ADU Development Opportunity: The property explicitly offers the potential to construct an Accessory Dwelling Unit (ADU), providing a clear path for additional income generation and increased property value.
Strategic Location & Accessibility: Conveniently located near schools, employment centers, major highways, and public transportation, making it highly attractive to potential tenants or owner-occupants seeking easy commutes and access to amenities.
Ample Parking & Garage: Extensive parking facilities, including a two-car detached garage, are a significant asset, especially in urban areas where parking can be a premium.
Cons
Age of Property: Built in 1929, the property is nearly a century old, which may imply potential for older infrastructure, plumbing, or electrical systems that could require future attention despite recent cosmetic renovations.
Lack of Climate Control Details: The description does not specify the presence of a central cooling system (e.g., air conditioning), which could be a drawback for comfort during warmer months in Southern California.
Limited Renovation Scope Detail: While 'recent renovations' are mentioned for kitchens and bathrooms, the extent and quality of updates to other critical areas (e.g., roofing, foundation, windows, major systems) are not detailed, potentially leaving areas for future investment.