914 N Loma Vista Drive Long Beach, CA ^$ 2,200,000

914 N Loma Vista Drive

^$ 2,200,000

Back to search

914 N Loma Vista Drive

Long Beach, CA, 90813

^$ 2,200,000

Bedrooms8 Baths4.0 Sq 4,502

Monthly Estimate*

^$ 15,368

Listed by JMS Manage Sell PC

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 1

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 2

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 3

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 4

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 5

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 6

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 7

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 8

914 N Loma Vista Drive, Long Beach, CA 90813 - Image 9

Multi-Family Home for sale in Long Beach, CA

for $2,200,000 with 8 bedrooms and 4 full baths. This 4,502 square foot home was built in 1922 on a lot size of 0.198.

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).

Multi-Family Active

Price

^$ 2,200,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

MixedUse

Lot Size

0.198

Year Built

1922

Town/City

Long Beach

County/Region

Los Angeles

MLS | Web ID

PW23193787

Days on Market

209

Features

General

Sewer PublicSewer

Possession CloseOfEscrow

Zoning LBPD10

HOA 0.0

Garage Spaces 0.0

Pool Features None

Year Built 1922

Tenant Pays Electricity Gas Water

Stories 2

Levels Two

Property SubType MixedUse

Gross Income 136476.0

Community Features Biking DogPark Park

County Los Angeles

Net Operating Income 85755.0

Operating Expense 48282.0

Insurance Expense 3411.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Subdivision Name Drake Park (DP)

Garage Y/N N

Special Listing Conditions Standard

Status Active

Directions Between 7th Street and Anaheim Street immediately West of and fronting on Drake Park

City Long Beach

Entry Location 1

View Y/N N

Senior Community Y/N N

Total Units 8

MLS Area 4 - Downtown Area Alamitos Beach

Lot Size Square Feet 8623.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Loma Vista

Listing Terms Cash Conventional

Property Attached Y/N Y

Land Lease Y/N N

Electric Expense 502.0

Home Warranty Y/N N

Fuel Expense 0.0

Trash Expense 500.0

Water Sewer Expense 500.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N Y

Days on Market 23

Building Area Units SquareFeet

Standard Status Active

Year Built Source Other

Tax Lot 21

Property Sub Type Additional MixedUse

Exterior

Parking Features None

Lot Features Item610UnitsAcre NearPark

Water Source Public

Total Parking 0.0

Lot Size Area 8623.0

Number of Buildings 1

Spa N

Building Area Total 4502.0

Lot Size Acres 0.198

Lot Size Units SquareFeet

Lot Size Source Assessor

Number of Separate Water Meters 1

Number of Separate Gas Meters 1

Number of Separate Electric Meters 1

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Common Walls Item2CommonWalls

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Street Suffix Drive

Laundry Features None

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 914

* Excluded Features

List By

Jms Manage Sell Pc

Broker

(562) 264-1444

Phone

Affordability Calculator

$15,368

Per Month

Monthly Principal & Interest: $15,368
Monthly Property Taxes: --
Monthly Home Insurance: --

Set your offer price

Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Learn more about how to save

Discover how much house you can afford

Your dream home may be within reach.

Learn More about how to save

THE TIME TO SELL IS NOW!

Nearby

Trends
Schools

Multi-family listings in Long Beach, CA

Average List Price ^$2,090,646

Percent of Sale Price 5%

About Long Beach, CA

470,090 Population

2% Since 2002

^$57,916 Median Income

35.78 Median Age

30% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
10/20/2023	$2,200,000		Listed Price

Map

More homes like this one

homes for you

See all

914 N Loma Vista Drive, Long Beach, CA, 90813 is a Multi-Family Home for sale at $2,200,000 with 4,502 sqft and a lot size of 0.198. 914 N Loma Vista Drive has 8 bedrooms, 4.0 baths, and was built in 1922. The property's zip code is 90813 which is in Long Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 5/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

*Full Name

*Email

*Phone

I am interested in financing options

Get more info

By submitting the form, you agree that Weichert^® may contact you via phone or text about your inquiry, which may involve the use of automated means. You are not required to consent as a condition of purchasing any property, goods or services. For any other information please read our privacy policy.

Get more info

Looking for an Associate?

Already Working with an Associate?

914 N Loma Vista Drive

Multi-Family Home for sale in Long Beach, CA

Affordability Calculator

Map

More homes like this one

Get more info about this home