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

$2,200,000
  • 8 Beds
  • 7 Baths
  • 4,502 Sq.Ft.
For Sale
$2,200,000 Get Pre-Qualified
Map preview of 914 N Loma Vista Dr, Long Beach, CA 90813

Property Overview: 914 N Loma Vista Dr Long Beach, CA has 8 bedrooms, 7 bathrooms, 4,502 living square feet and 8,623 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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).

Listed by Scott Burns | BRE #01989612 | JMS Manage Sell PC
Last checked: 13 minutes ago | Last updated: November 10th, 2023 | Source CRMLS | DOM: 170
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Home details

Lot Sq. Ft
8,623
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Mixed Use
Status
Active
MLS#
PW23193787
City
Long Beach
County
Los Angeles
Time on Site
198 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 1
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,324
  • Total Rent: $3,972
  • Pro Forma/Market Rent: $4,950
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,195
  • Total Rent: $1,195
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $1,750
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 5
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,430
  • Total Rent: $2,806
  • Pro Forma/Market Rent: $3,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $136,476
  • Net Operating Income: $85,755
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $48,282
  • Electric: $502
  • Gas/Fuel: $0
  • Trash: $500
  • Insurance: $3,411
  • Professional Management: $6,800
  • Water/Sewer: $500

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Property Details for 914 N Loma Vista Dr

Interior Features
Laundry Information
  • No Laundry
  • None
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Lot Information
  • Lot Features: 6-10 Units/Acre, Park Nearby
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 8
  • Parcel Number: 7271020004
  • Year Built Source: Other
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Drake Park (DP)
  • Directions: Between 7th Street and Anaheim Street, immediately West of and fronting on Drake Park
Neighborhood Information
  • Community Features: Biking, Dog Park, Park
View more facts & features

Local Long Beach Agent

Sale History for 914 N Loma Vista Dr

Last sold for $900,000 on April 30th, 2015

  • October, 2023

  • Oct 18, 2023

    Date

    Active

    CRMLS: PW23193787

    $2,200,000

    Price

  • April, 2015

  • Apr 30, 2015

    Date

    Sold (Public Records)

    Public Records

    $900,000

    Price

  • November, 2004

  • Nov 30, 2004

    Date

    Sold (Public Records)

    Public Records

    $730,000

    Price

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Tax History for 914 N Loma Vista Dr

Assessed Value (2020): $990,039
Year Land Value Improved Value Assessed Value
2020 $692,329 $297,710 $990,039

Home Value Compared to the Market

This property vs the competition

914 N Loma Vista Dr is listed 175.03% higher than the median list price for the city of Long Beach which has a median list price of $799,900. The median price per/sqft for Long Beach is $644 and this home is listed at $488.67 per/sqft which puts the price per square foot 24.12% lower than the median price per square foot for the city of Long Beach.

About 914 N Loma Vista Dr

Detailed summary of property

914 N Loma Vista Dr is a mixed use located in Long Beach, CA 90813 and is currently for sale. This mixed use property offers 8 bedrooms, 7 bathrooms, roughly 4,502 living square feet, and sits on an approximately 8,623 square foot lot. 914 N Loma Vista Dr was first listed on ArdentRealEstateGroup.com on October 18, 2023. The homeowner is currently asking $2,200,000. The median priced home in Long Beach is $799,900 with a median price per square foot of $644. Based on Ardent Real Estate Group's Long Beach Market Data, this home is listed 175.03% higher than the median priced home. Local competing homes currently for sale include 1043 Coronado Ave, 4130 E 10th St and 234 S Knott Ave. While the average home in Long Beach, CA is selling in 54 days, 914 N Loma Vista Dr has a days on market of 170 days. There are currently 610 homes for sale in the Long Beach real estate market and 349 of them are single family homes while 248 of them are condos and 13 are townhomes. For more information on this home for sale at 914 N Loma Vista Dr Long Beach, CA 90813 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 914 N Loma Vista Dr

Public county record property details
Beds
8
Baths
8
Year built
1922
Sq. Ft.
4,502
Lot Size
8,623
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
21
APN
7271-020-004

The source for these homes facts are from public records.

90813 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$695,000
Median List Price/Sq.Ft.
$546
Median Sold Price
$584,000
Median Sold Price/Sq.Ft.
$592
Total Inventory
28
Median Sale to List Price %
108.35%
Avg Days on Market
23
Loan Type
Conventional (80%), FHA (10%), VA (10%), Cash (0%), Other (0%)

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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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