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14266 Village Way 22, Westminster, California 92683, Westminster, 92683 - bed, bath

14266 Village Way 22, Westminster, California 92683 home-pic-0
ACTIVE$1,790,000
14266 Village Way 22, Westminster, California 92683
0Bed
0Bath
4,758Sqft
253,139Lot
Year Built
1965
Close
-
List price
$1.79M
Original List price
$1.79M
Price/Sqft
$376
HOA
-
Days on market
-
Sold On
-
MLS number
OC25062022
Home ConditionGood
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.79M(50th), sqft - 4758(75th), beds - undefined(50th), baths - undefined(50th).

4-Unit Apartment Condo in Westminster - Prime Investment Opportunity Discover this 4-unit apartment condo located in the heart of Westminster! Two units are partially remodeled, while two boast complete renovations (one as recent as 5 months ago). Each unit offers a spacious 2-bedroom, 1.5-bath layout, providing comfortable and practical living accommodations. The property features convenient parking in the back alley with 3 single-car garages and 1 outdoor parking spot. Perfect for investors, this property is tenant-occupied with long-term residents currently enrolled in the Section 8 program. Rents are below market value, offering excellent potential for future rent adjustments and income growth. The HOA covers the roof, fire insurance, landscaping, and building exterior for added peace of mind. The property is in close proximity to Chua Dieu Ngu Buddhist Temple, Blessed Sacrament Catholic Church, Sigler Park, and schools. It also offers quick access to freeways and nearby shopping malls for convenience. Don't miss out on this fantastic opportunity!

Price History

Date
Event
Price
03/23/25
Listing
$1,790,000
Condition Rating
Good
The property, built in 1965, has undergone significant recent updates. Two of the four units have been completely renovated, with one as recent as 5 months ago, and the other two are partially remodeled. This indicates a move-in ready condition for at least half the property and functional condition for the rest. While the exterior shows some age and window AC units are visible (suggesting no central cooling), the extensive interior renovations elevate the overall condition beyond 'Fair'. The HOA covering roof and exterior maintenance also contributes positively to its upkeep.
Pros & Cons

Pros

Strong Investment Potential: Positioned as a 'Prime Investment Opportunity' with inherent income growth potential due to current below-market rents.
Guaranteed Income Stream: Tenant-occupied with long-term Section 8 residents, ensuring stable and reliable rental payments.
Recent Unit Upgrades: Two units are fully renovated (one very recently), enhancing tenant appeal and reducing immediate capital expenditure for those units.
Reduced Owner Responsibilities: The HOA covers major exterior components (roof, building exterior, landscaping) and fire insurance, minimizing owner's maintenance burden.
Desirable Location: Proximity to essential amenities, schools, freeways, and shopping malls enhances tenant desirability and property value.

Cons

Below Market Rents: Current rental income is below market value, requiring active management to realize full income potential and potentially impacting immediate cash flow.
Property Age: Built in 1965, the property's age may lead to future maintenance needs for systems not covered by the HOA (e.g., interior plumbing, electrical) or require further modernization.
Inconsistent Unit Condition: While some units are fully renovated, two are only partially remodeled, suggesting additional investment may be required to standardize unit quality and maximize rental income across all units.

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