823 Lagoon, Wilmington, California 90744, Wilmington, 90744 - 0 bed, 0 bath
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823 Lagoon
Wilmington, California 90744
ACTIVE
CONDITION: POOR
0Beds
0Baths
5,301Sq Ft
7,514Lot Size
Property Price
LIST PRICE$1,595,000
EST. MARKET VALUE
$1,502,767
6% AboveMARKET VALUE
SUMMARY
This 7-unit Multi-Family Asset presents a High-Potential Investment Opportunity, listed at $1,595,000—positioned well above the $1,502,768 Fair Market Value by -6%. While the property requires capital expenditure due to its Condition Rating of 5, the 5,301 square foot building on a 7,514 square foot lot offers significant value-add potential. Proximity to top-rated schools like Taper Avenue Elementary enhances long-term rental demand. This is a strategic acquisition ideal for Buy-and-Hold Investors or Value-Add Developers seeking to modernize a substantial Wilmington complex.
Estimated Market Value
$1,502,767
Based on Realkey algorithm analyzing recent comparable sales in Wilmington.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 823 Lagoon Subject | $1,595,000* List Price | 0 | 0 | 5,301 | $283 | - |
A 632 N Wilmington Boulevard Active | $1,585,000 List Price | 0 | 0 | 5,336 | $297 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
The property was built in 1965 (59 years old) and lacks evidence of recent major renovations. The utility room shows dated plumbing and systems, and the listing description emphasizes 'significant potential,' which is a standard industry indicator for a property requiring substantial rehab and modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Taper Avenue Elementary School (9/10).
- Multi-Unit Income Potential
Featuring a 7-unit complex configuration, this property offers substantial rental income potential and risk diversification for multi-family real estate investors.
- Proximity to Schools
The property is conveniently located near multiple educational institutions, including George De La Torre Jr. Elementary School just 0.36 miles away, enhancing its appeal to tenant families.
CONSRISKS & DEFICIENCIES
- Aging Construction
Built in 1965, the building may require immediate or ongoing capital expenditures for deferred maintenance, modernization, and utility upgrades.
- Financing Complexity
Classified under a mixed-use sub-type, the property may face more stringent financing requirements and complexity compared to standard residential multi-family assets.
About 823 Lagoon
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.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1965
- Lot Size
- 7,514 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Wilmington Unified Schools
George De La Torre Jr. Elementary School
Grades K-5 • 0.4 mi
3/10
Gulf Avenue Elementary School
Grades K-5 • 0.5 mi
6/10
Fries Avenue Elementary School
Grades K-5 • 0.6 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 5,301 | 6,480 |
| Lot Size | 7,514 | 8,485 |
| Price | $1.59M | $1.35M |
| Price per sq ft | $301 | $236 |
| Built year | 1965 | 1958 |
| HOA | $0 | $0 |
| Days on market | 23 | 98 |
Pricing History
Listed for Sale
Aug 17, 2026
$1,595,000
Initial Listing
Sold
Oct 27, 2022
$4,000,000
Public Record
Sold
Jun 10, 2014
$679,000
Public Record