329 West 14th Street

Long Beach, CA 90813

$2,799,000
Price
Beds
7,976 Sq. Ft.
$351 / Sq. Ft.
7,976
Sq. Ft.
$351
per Sq. Ft.

Description

Back on the market! Seller motivated and ready for your offer! Fully leased 10 unit apartment complex, all 2 bed 1 bath units! Apartment building is currently undergoing extensive California SB-721 compliance renovations to elevated walkways and balconies. All buildings starting in 2025 in California will have their balconies and elevated walkways inspected. Many will require extensive rebuilds. Avoid the headache by buying an apartment complex that is having it all done pre-emptively and professionally...Back on the market! Seller motivated and ready for your offer! Fully leased 10 unit apartment complex, all 2 bed 1 bath units! Apartment building is currently undergoing extensive California SB-721 compliance renovations to elevated walkways and balconies. All buildings starting in 2025 in California will have their balconies and elevated walkways inspected. Many will require extensive rebuilds. Avoid the headache by buying an apartment complex that is having it all done pre-emptively and professionally by a structural engineering firm and licensed decking company. Currently, the property generates a gross rent of $194,000 per year. However, there is considerable room for growth by adjusting rental rates to align with the current market value. Configuration may even present a condo conversion (buyer to verify), allowing the right investor to capitalize on the rising demand for affordable homeownership options in the area. Substantial capital improvements have been recently completed, including the current project. 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. Building is offered in AS IS condition. OM in Docs/Attachments
  1. Listed by Jason Anderson • DRE #02089130 • Brokerage DRE #00745605 • Seven Gables Real Estate • 714-926-4460

Property Details for 329 West 14th Street

Total Units
10.0
Lot Size Source
Assessor
Building Area Total
7976
Building Area Units
Square Feet
Stories Total
3
Entry Level
1
Parcel Number
7269041036
Area
Downtown Area, Alamitos Beach (4)

Location

Listing Courtesy of Seven Gables Real Estate, Jason Anderson, DRE #02089130
Add your commute
LISTING UPDATED: 04/26/2024 10:17 PM

Property Details for 329 West 14th Street

StatusActive Under Contract
MLS #PW23077714
Days on Market184
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial Sale / Multi Family
Year Built1986
Lot Size0.17 AC / 7,327 SF
CountyLos Angeles County

Location

Listing Courtesy of Seven Gables Real Estate, Jason Anderson, DRE #02089130
Add your commute

Building Information for 329 West 14th Street

Stories3Residences-Year Built1986Building Size-Lot Size0.17 AC / 7,327 SF

Payment Calculator

$16,860 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,275

Property Taxes

$1,585

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 329 West 14th Street

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $194,000
  • Current Financing: None
Expense Details
  • Expense Year: $2,023
  • Electric Expense: $2,500
  • Insurance Expense: $8,496
  • Maintenance Expense: $13,774
  • Trash Expense: $9,000
  • Water Sewer Expense: $4,500
  • Real Estate Tax Expense: $40,000
Tax / Assessment Info
  • Tax Year: 2023
Community / Development
Community / Development
  • Investment Property: Yes
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating: Natural Gas
Exterior Features
  • Security Features: 24 Hour Security, Fire and Smoke Detection System, Resident Manager, Security Lights, Security System, Smoke Detector(s)
  • Roof: Asphalt
  • Fence: Yes
  • Fencing: Vinyl
Land/Lot Info
  • Sign on Property: No
  • Lot Features: 6-10 Units/Acre, Near Public Transit
  • Land Use: Multi-Family
  • Land Lease: No
  • Water Source: Public
Property / Structure Info
  • Building Status: Existing
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 20
  • Unit Type Baths Total: 10
  • Unit Type Actual Rent: $194,000
  • Unit Type Area: 8000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
  • Unit Type Description: 2 bed 1 bath apartments
Unit Information
  • Number Of Units Leased: 10
  • Number Of Buildings: 1

Property History for 329 West 14th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 329 West 14th Street

Taxable ValueLand$372,205Additions$999,556Total$1,371,761
Tax Record2023$19,020 ($1,585 / month)
Home Facts
Total Finished SqFt7,976 SqFtAbove Grade Finished SqFt7,976 SqFtLot Size7,327 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningLBR4NCountyLOS ANGELESAPN7269-041-036

Schools near 329 West 14th Street

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
International Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Educational Partnership High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Seven Gables Real Estate, Jason Anderson, DRE #02089130

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided 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 CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.