329 14th Street WLong Beach, CA 90813
SqFt
7,976
$3,199,999
Description
Rare 10-Unit Apartment Building within the vibrant city of Long Beach, offering a host of features and exciting potential for astute investors. The building consists of ten thoughtfully designed 2-bedroom, 1-bathroom units, providing ample living space for residents. This unique configuration may even presents a condo conversion (buyer to verify), allowing the right investor to capitalize on the rising demand for affordable homeownership options in the area. Currently, the property generates a gross rent of $174,204 per year. However, there is considerable room for growth by adjusting rental rates to align with the current market value. Savvy investors can leverage this opportunity to maximize returns and unlock the property's full income potential. Substantial capital improvements have been recently completed. These enhancements include major plumbing overhauls, including the installation of a new sewer line. Additionally, a new fire alarm system, video surveillance system, and upgraded water heaters have been implemented, enhancing security, and overall resident comfort. Long Beach, a thriving multi-family submarket within the Los Angeles metro area, boasts an impressive vacancy rate of only 3.8% as of Q1 2023. Additional Advantages: A notable advantage of this property is its fully secured and gated 17-car parking garage—an exceptional feature that is rarely found in this locale. The information provided is based on estimates and should be independently verified. This property is being offered as part of a 1031 Exchange. OM in Docs/AttachmentsContact - Listing ID PW23077714
Jignesh Patel
Property Details for 329 14th Street W
StatusActive
Price/SqFt$401.20
SqFt
7,976
CountyLos Angeles
Year Built1986
Property TypeCommercial Sale
Property Sub TypeMulti Family
Primary Features
County
Los Angeles
Price/SqFt
401.2
Property Sub Type
Multi Family
Property Type
Commercial Sale
Year Built
1986
Interior
Building Area Units
Square Feet
Condo Area Units
Square Feet
Cooling Type
Wall/Window Unit(s)
Cooling
yes
Heating
yes
Heating Type
Natural Gas
Laundry Features
Common Area
Stories Total
3
External
Entry Level
1
Fence
yes
Fencing
Vinyl
Lot Size Source
Assessor
Minimum Total Area Units
Square Feet
Number Of Buildings
1
Roof
Asphalt
Water Source
Public
Location
Country
US
MLS Area Major
4 - Downtown Area, Alamitos Beach
Additional
Additional Parcels
no
Building Status
Existing
Days On Market
30
Land Use
Multi-Family
List Agent State License
02089130
List Office State License
00745605
Max Total Area Units
Square Feet
Number Of Units Leased
10
Number Of Units Total
10
Parcel Number
7269041036
Security Features
24 Hour Security, Fire and Smoke Detection System, Resident Manager, Security Lights, Security System, Smoke Detector(s)
Financial
Accounting Type
Actual
Electric Expense
1607
Expense Year
2022
Gross Scheduled Income
173028
Insurance Expense
9873
Investment Property
yes
Laundry Income
1176
Maintenance Expense
12000
Real Estate Tax Expense
17882
Special Listing Conditions
Standard
Tax Year
2022
Trash Expense
7280
Water Sewer Expense
5860
Zoning Info
Local Information
© 2023. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Any correspondence from IDX pages are routed to Realty One Group United or one of their associates. Last updated Wednesday, June 7th, 2023.
Based on information from CARETS as of Wednesday, June 7th, 2023 02:06:21 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Based on information from CARETS as of Wednesday, June 7th, 2023 02:06:21 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Similar Listings
Contact - Listing ID PW23077714
Jignesh Patel
Contact - Listing ID PW23077714
Jignesh Patel
Contact - Listing ID PW23077714
Jignesh Patel
Contact - Listing ID PW23077714
Jignesh Patel
Contact - Listing ID PW23077714
Jignesh Patel
Data services provided by IDX Broker
