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914 N Loma Vista Dr Long Beach, CA, 90813
$2,200,000 Commercial for sale Other
Please see attached Offering Memorandum for additional information. Beautiful 914 N. Loma Vista Drive is a charming 8 unit apartment complex adjacent to dynamic downtown Long Beach. This property features four standard one-bedroom, two deluxe one-bedroom, and two balcony one-bedroom apartments. The property has been substantially improved by its current owner who has owned & operated it for 7 years. During that time, the current owner has invested a total of over $148,000 in capital expenditures to the property, completing major renovations on 6 of 8 units and contributing $46k+ into the building exterior. These improvements have yielded an increase of the annual rent roll from $70,752 in 2015 to $136,476 today (an increase of 92.89%). The property is being offered at a price of $2,200,000, which is an attractive 15.92X multiple of current gross rents (12.93X on market rents) and a Cap Rate on current rents of 3.90% (5.23% on market rents).
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Property details
4,502 sqft interior area
Land area
8,623 sqft (0.20 acres)
Days on Verhouse
214
Address
914 N Loma Vista Dr, Long Beach, CA, 90813
City of California
Long Beach
County
Los Angeles
Year Built
1922
District
Listing
Nearby major retailers
Costco
Trader Joe's
Mercedes-Benz
ALDI
Albertsons
Toyota
Walmart Supercenter
T-Mobile
Wholesale: 1
Supermarket: 5
Car: 1
Car repair: 1
Mobile phone: 1
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Interior Features
—
Garage & Parking
None
Listed by
Scott Burns, JMS Manage Sell PC
Name
Scott Burns
License number
01989612
Brokerage company
JMS Manage Sell PC
MLS #
CRPW23193787
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Calculate your monthly payments
Mortgage
$6,755
Taxes
$0
HOA dues
$0
Mortgage
$440,000 / 20%
2.28%
30 years
Your amount
$6,755 / month
Lot details
TMK #7271020004
Lot Description
Other
Parcel nr.
7271020004
90813 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 90813
45%
Families with children
National average: 39%
47%
Non family households
373,788
Population
$79,388
Average Income
Age & gender
Median age 34 years
More info
Commute types
78% commute by car
More info
Education level
21% have not graduated education
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Number of employees
2% work in management
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Vehicles available
48% have 1 vehicle
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Vehicles by gender
48% have 1 vehicle
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Housing market insights for
$802.63k
Neighborhood average
sales price*
sales price*
$615k
Neighborhood median
sales price*
sales price*
449
Number
of sales*
of sales*
Housing type
33% are small apartments
More info
Rooms
39% of the houses have 4 or 5 rooms
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Bedrooms
45% have 2 or 3 bedrooms
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Owners vs Renters
73% are renters
More info
14.17 / 20
Above Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
New Listing Oct 18, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Oct 18, 2023 | New Listing | $2,200,000 | 0 | MLS #CRPW23193787 |
Taxes of 914 N Loma Vista Dr, Long Beach, CA, 90813
LBPD zoning / MLS #CRPW23193787
Zoning
LBPD
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Frequently Asked Questions about 914 N Loma Vista Dr
What is 914 N Loma Vista Dr?
914 N Loma Vista Dr is a Commercial/Industrial propertywith 4,502 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
914 N Loma Vista Dr, Long Beach, CA, 90813.
What comparable properties are nearby?
Comparable nearby commercial properties include 1151 Daisy Ave, 1044 Cedar Ave, 1217 Cedar Ave, 208 W Anaheim St, 110 E Anaheim St, 219 E 10th St.
Based on information from the bridgeMLS as of 05-20-2024. 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.
Listing last updated on: Nov 10, 2023
Verhouse Last checked 21 minutes ago
The closest grocery stores are Superior Grocery, 0.76 miles away and El Super, 0.9 miles away.
The 90813 zip area has a population of 373,788, and 45% of the families have children. The median age is 34.39 years and 78% commute by car. The most popular housing type is "small apartment" and 73% is renter.
