1050 Lagoon Avenue, Wilmington, California 90744, Wilmington, 90744 - bed, bath
ACTIVE$949,000
1050 Lagoon Avenue, Wilmington, California 90744
0Bed
0Bath
2,688Sqft
7,112Lot
Year Built
1924
Close
-
List price
$949K
Original List price
$1.09M
Price/Sqft
$353
HOA
-
Days on market
-
Sold On
-
MLS number
OC25016580
Home ConditionGood
Features
View-
About this home
We found 3 Cons,6 Pros. Rank: price - $949.0K(83th), sqft - 2688(67th), beds - undefined(50th), baths - undefined(50th).
Welcome to this charming quadruplex - 1050 and 1052 Lagoon Ave on a large 7100 sqft lot. Each unit consists of 2 bed 1 bath w/garage (5 garages total) and each unit has its own interior laundry. The units feel like town homes (not apartment style) and have a front and back entrance. Property upgrades include, exterior paint in 2024, newer windows, newer flooring, newer bathrooms and newer kitchens.
Nearby schools
4/10
Fries Avenue Elementary School
Public,•K-5•0.3mi
6/10
Gulf Avenue Elementary School
Public,•K-5•0.3mi
3/10
George De La Torre Jr. Elementary School
Public,•K-5•0.6mi
4/10
Hawaiian Avenue Elementary School
Public,•K-5•0.8mi
4/10
Broad Avenue Elementary School
Public,•K-5•1.2mi
4/10
Wilmington Park Elementary School
Public,•K-5•1.2mi
4/10
Normont Elementary School
Public,•K-5•1.6mi
6/10
Harbor City Elementary School
Public,•K-5•2.2mi
9/10
Taper Avenue Elementary School
Public,•K-5•2.4mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•2.7mi
2/10
Barton Hill Elementary School
Public,•K-6•2.9mi
5/10
Del Amo Elementary School
Public,•K-5•3.8mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•20.0mi
8/10
Harry Bridges Span
Public,•K-8•0.4mi
5/10
Wilmington Middle School
Public,•6-8•1.0mi
6/10
Alexander Fleming Middle School
Public,•6-8•2.7mi
4/10
Hudson K-8
Public,•K-8•2.9mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•3.1mi
4/10
Richard Henry Dana Middle School
Public,•6-8•4.0mi
5/10
Phineas Banning Senior High School
Public,•9-12•0.8mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•2.7mi
3/10
Cabrillo High School
Public,•9-12•3.0mi
6/10
San Pedro Senior High School
Public,•9-12•4.1mi
Price History
Date
Event
Price
12/15/10
Sold
$332,000
07/20/07
Sold
$633,500
Condition Rating
Good
Despite being built in 1924, the property has undergone significant recent renovations, including exterior paint in 2024, newer windows, flooring, bathrooms, and kitchens. The images confirm clean, functional, and updated kitchens and bathrooms with modern, albeit not high-end, finishes and appliances. The property appears move-in ready with no immediate renovation required. However, the advanced age of the underlying structure and the lack of explicit mention of updates to major systems like plumbing, electrical, or HVAC prevent it from achieving an 'Excellent' rating, as there may be potential for underlying issues not covered by cosmetic upgrades.
Pros & Cons
Pros
Great Schools: Elementary School: Taper Avenue Elementary School (9/10).
Income-Generating Quadruplex: The property is a quadruplex, offering immediate and diversified rental income potential for investors.
Extensive Recent Upgrades: Significant renovations including exterior paint (2024), newer windows, flooring, bathrooms, and kitchens reduce immediate capital expenditure for a new owner.
Desirable Unit Features: Units are designed as townhomes with individual front/back entrances and in-unit laundry, enhancing tenant appeal and privacy.
Ample Parking & Storage: The property includes five garages for four units, providing excellent parking and storage solutions, a premium in urban areas.
Significant Price Reduction: A substantial price drop from the original list price ($1.09M to $949K) indicates a motivated seller and potential for a favorable acquisition.
Cons
Advanced Property Age: Built in 1924, the property's age suggests potential for underlying structural or system issues not explicitly covered by recent cosmetic upgrades.
Lack of HVAC Mention: The description does not mention central heating or air conditioning, which could be a significant comfort and marketability concern for tenants in California.
Potential Market Resistance: The considerable price reduction may suggest initial overpricing or challenges in the market perception of the property or its location.