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6 Large 1B/1B Units!

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.

Property Details

  • Units: 6
  • Gross Rent Multiplier: 5%
  • Cap Rate:
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Price

$1,149,999

Annual Income

$89,040

Annual NOI

$51,690

Annual Expense

$32,012

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL 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 UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
633$7,420$8,100

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