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Image 1 - 914 N Loma Vista Dr, Long Beach, California, 90813 - House for sale
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Home For Sale In Long Beach, California
914 N Loma Vista Dr, Long Beach, California, 90813

Home For Sale In Long Beach, California

house for sale
13 views
Listed: 03/11/24

914 N Loma Vista Dr, Long Beach, California, 90813

8 Bed:
7 Bath:
4,502 Sq Ft Living Area:
Save
Price
$ 2,2M

About This House

Please see attached Offering Memorandum for additional information. Beautiful914 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 and operated it for 7 years. During that time, the current owner has invested a total of over$148, 000in 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, 752in 2015 to$136, 476today (an increase of 92.89%). The property is being offered at a price of$2, 200, 000,which is an attractive15.92Xmultiple 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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Long Beach Housing & Living

Average sale prices for houses

2 bed
3 bed
4+ bed
Show as List Show as Graph
In June 2024, the asking price for 2 bed houses for sale in/near Long Beach, United States averaged $820,250, a decrease of 12.7% from the previous month.
Median price trends for properties for sale in Long Beach, United States as of June 2024.

Household Income

Median household income: $61,610
Number of households: 173,432
The average household income in Long Beach, CA grew from $60,557 to $61,610 in the past year. This data is an estimate based upon 173,432 households in Long Beach, CA.
The chart below presents how household income is distributed in Long Beach, CA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Long Beach, CA compared to median property taxes around the country. The prevalent amount of property taxes in Long Beach, CA equals $3k+ , which is more than the national average.