242 W 14th Street

    Long Beach, CA 90813
    • $1,149,999
    • STATUS: Pending
    • ON SITE: 132 days
    • ID#: SB18163391
    Pending
    UPDATED: 25 min ago
    $1,149,999
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,700
      SQFT
    • $426
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    We are pleased to present 242 W. 14th Street Apartments, comprised of 6 large 1 Bed/1 Bath Units spread over 3 separate buildings. Located less than a mile from downtown Long Beach, between the Wilmore Historic Distric and Wrigley. Built in 1922, current owners have redone multiple units and completed additional exterior capital improvements to restore this property for new owners. A stable, income producing asset, this property is priced at 12.88 GRM and a 4.6% Cap Rate on current rents with approx. 10% upside for new owner.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T17:29:52.37. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.impactca.com/homes/85397021

    242 W 14th Street Long Beach, CA 90813

    • Price: $1,149,999
    • Status: Pending
    • Updated: 25 min ago
    • ID#: SB18163391
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    2,700
    SQFT
    $426
    $/SQFT
    1922
    Built
    Neighborhood:
    Other (Othr)
    County:
    Los Angeles
    Area:
    4 - Downtown Area, Alamitos Beach
    Property Description
    We are pleased to present 242 W. 14th Street Apartments, comprised of 6 large 1 Bed/1 Bath Units spread over 3 separate buildings. Located less than a mile from downtown Long Beach, between the Wilmore Historic Distric and Wrigley. Built in 1922, current owners have redone multiple units and completed additional exterior capital improvements to restore this property for new owners. A stable, income producing asset, this property is priced at 12.88 GRM and a 4.6% Cap Rate on current rents with approx. 10% upside for new owner.
    Exterior Features

    Garage Spaces 0.00 Lot Features Lot Shape-RectangularNear Public Transit Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common WallNo One Above Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.90 Community Features Urban Country Us Electric Expense 1080.00 Elevation Units Feet Fuel Expense 1080.00 Gross Income 89160.00 Gross Multiplier 12.89 Gross Scheduled Income 89040.00 Insurance Expense 2400.00 Land Lease YN No Laundry YN No Net Operating Income 51690.00 New Construction YN No New Taxes Expense 14375.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 32012.00 Professional Management Expense 5086.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Washington Total Actual Rent 7420.00 Total Expenses 26800.00 Trash Expense 1080.00 Water Sewer Expense 1080.00 Water Source Public Zoning Lbr4n

    Listing provided courtesy of John Alden of Buckingham Investments, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T17:29:52.37. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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