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242 W 14th Street, Long Beach 90813

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.

offmarket

UNITS: 6

GROSS RENT MULTIPLIER: 5%

CAP RATE:

AGENT: John Alden

PRICE

$1,149,999

ANNUAL INCOME

$89,040

ANNUAL NOI

$51,690

ANNUAL EXPENSE

$32,012

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
311$1,195$3,585$1,350$4,050
111$1,245$1,245$1,350$1,350
211$1,295$2,590$1,350$2,700
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
633 $7,420 $8,100
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