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1685 Loma Ave #1, Long Beach, CA 90804
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1685 Loma Ave #1 Long Beach, CA 90804

$2,350,000 Sold Price as of 08/31/2020
  • 15 Beds
  • 13 Baths
  • 7,208 Sq.Ft.
Sold
$2,350,000 Sold Price as of 08/31/2020 Refinance Your Mortgage
Map preview of 1685 Loma Ave #1, Long Beach, CA 90804

Property Overview: 1685 Loma Ave #1 Long Beach, CA has 15 bedrooms, 13 bathrooms, 7,208 living square feet and 8,352 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: This property has exceptionally large units in the next emerging neighborhood in Long Beach. New construction has reshaped the neighborhood with high-end residential and retail, and the 2020 re-opening of Community Hospital will further drive demand for housing in the neighborhood. Rental collections have been 100% during the COVID-19 crisis.

Listed by Justin White | BRE #01267826 | Justin White
Last checked: 16 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 14

Home details

Lot Sq. Ft
8,352
HOA Dues
$0/mo
Year built
1976
Garage
14 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW20113963
City
Long Beach
County
Los Angeles
Time on Site
1521 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
  • # of Leased Units: 7
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 7
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,360
  • Total Rent: $0
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,645
  • Total Rent: $0
Unit Breakdown 3
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,755
  • Total Rent: $0
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $0
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.09%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $156,900
  • Net Operating Income: $96,087
  • Gross Operating Income: $152,193
  • Vacancy Allowance: $4,707
  • # of Rented Garages: 7
  • Laundry Income: $1,200
Annual Expense Breakdown
  • Total Operating Expense: $56,106
  • Electric: $550
  • Gas/Fuel: $1,735
  • New Taxes: $28,434
  • Trash: $0
  • Gardener: $2,400
  • Insurance: $2,523
  • Maintenance: $4,900
  • Professional Management: $7,845
  • Water/Sewer: $3,172
  • Other Expenses: $1,500
  • Other Expense Description: Misc

Property Details for 1685 Loma Ave #1

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 14
  • # of Parking Spaces: 14
Lot Information
  • Lot Features: Landscaped
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 7
  • Parcel Number: 7259003033
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Eastside (ES)
  • Directions: Loma Ave and PCH
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Sidewalks, Street Lights, Urban
View more facts & features

Local Long Beach Agent

Sale History for 1685 Loma Ave #1

Last sold for $2,340,000 on August 31st, 2020

  • August, 2020

  • Aug 31, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,340,000

    Price

  • August, 2020

  • Aug 30, 2020

    Date

    Sold

    CRMLS: PW20113963

    $2,350,000

    Price

  • Jul 23, 2020

    Date

    Active Under Contract

    CRMLS: PW20113963

    $2,350,000

    Price

  • Jun 12, 2020

    Date

    Active

    CRMLS: PW20113963

    $2,350,000

    Price

  • May, 2020

  • May 13, 2020

    Date

    Expired

    CRMLS: PW19272570

    $2,500,000

    Price

  • May 1, 2020

    Date

    Active

    CRMLS: PW19272570

    $2,500,000

    Price

  • Mar 30, 2020

    Date

    Hold

    CRMLS: PW19272570

    $2,500,000

    Price

  • Nov 27, 2019

    Date

    Active

    CRMLS: PW19272570

    $2,500,000

    Price

  • Listing provided courtesy of CRMLS

    This property is a total of 7 units, a building total square footage of 7,208, and lot size of 8,352 SF. It features exceptionally large units in the next emerging neighborhood in Long Beach. New construction has reshaped the neighborhood with high-end residential.

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Tax History for 1685 Loma Ave #1

Assessed Value (2020): $906,672
Year Land Value Improved Value Assessed Value
2020 $166,478 $740,194 $906,672

Home Value Compared to the Market

This property vs the competition

1685 Loma Ave #1 sold on August 31, 2020 for 186.94% higher than the current median sold price for the city of Long Beach which is $819,000. The median sold price per/sqft for Long Beach is $628 and this home is sold at $326.03 per/sqft which puts the price per square foot 48.08% lower than the current median sale per square foot for the city of Long Beach.

About 1685 Loma Ave #1

Detailed summary of property

1685 Loma Ave #1 is a multi family that recently sold in Long Beach, CA 90804. This multi family property offered 15 bedrooms, 13 bathrooms, roughly 7,208 living square feet, and sits on an approximately 8,352 square foot lot. 1685 Loma Ave #1 was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $2,350,000. Home in Long Beach are selling for a median price of $819,000 and a median price per square foot of $628. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 186.94% higher than the current median priced home. Local homes that are currently for sale include 268 Park Avenue, 10 Redondo Ave and 5113 E The Toledo. While the average home in Long Beach, CA is selling in 62 days, 1685 Loma Ave #1 has a days on market of 14 days. There are currently 778 homes for sale in the Long Beach real estate market and 416 of them are single family homes while 337 of them are condos and 23 are townhomes. For more information on this home for sale at 1685 Loma Ave #1 Long Beach, CA 90804 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 1685 Loma Ave #1

Public county record property details
Beds
15
Baths
15
Year built
1976
Sq. Ft.
7,208
Lot Size
8,352
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
3
APN
7259-003-033

The source for these homes facts are from public records.

90804 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$500,000
Median List Price/Sq.Ft.
$622
Median Sold Price
$450,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
44
Median Sale to List Price %
97.83%
Avg Days on Market
30
Loan Type
Conventional (62.5%), FHA (12.5%), VA (12.5%), Cash (12.5%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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