914 North Loma Vista Drive

914 North Loma Vista Drive

Long Beach, CA 90813

$2,200,000
Price
5
Beds
7
Baths
4,502 Sq. Ft.
$489 / Sq. Ft.
4,502
Sq. Ft.
$489
per Sq. Ft.
an aerial view of residential houses with outdoor space
a view of a white house
a view of a terrace with sitting area
an aerial view of residential houses with outdoor space
a front view of a house
a view of a house with a backyard
a kitchen with granite countertop a sink and a stove top oven
a view of a terrace with outdoor seating
a view of an empty room with a window

Description

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...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).
  1. Listed by Scott Burns • DRE #01989612 • Brokerage DRE #01989612 • JMS Manage Sell PC • sburns@jmsred.com

Property Details for 914 North Loma Vista Drive

Parking Spaces Total
0
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4502
Assessor Parcel Number
7271-020-004
Property Attached YN
true

Location

Listing Courtesy of JMS Manage Sell PC, Scott Burns, DRE #01989612
Add your commute
LISTING UPDATED: 11/10/2023 02:43 AM

Property Details for 914 North Loma Vista Drive

StatusActive
MLS #PW23193787
Days on Market194
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1922
Lot Size0.20 AC / 8,623 SF
CountyLos Angeles County

Location

Listing Courtesy of JMS Manage Sell PC, Scott Burns, DRE #01989612
Add your commute

Building Information for 914 North Loma Vista Drive

Stories2Residences-Year Built1922Building Size-Lot Size0.20 AC / 8,623 SF

Payment Calculator

$13,210 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,006

Property Taxes

$1,204

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 914 North Loma Vista Drive

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Water
Income / Expense / Tax Details
Income Details
  • Gross Income: $136,476
  • Gross Scheduled Income: $136,476
  • Net Operating Income: $85,755
Expense Details
  • Operating Expense: $48,282
  • Operating Expense Percent: 35.00%
  • Fuel Expense: $0
  • Electric Expense: $502
  • Insurance Expense: $3,411
  • Professional Management Expense: $6,800
  • Trash Expense: $500
  • Water Sewer Expense: $500
  • Total Expenses: $20,782
Tax / Assessment Info
  • Tax Block: C
  • Tax Tract Number: 727...
  • Tax Census Tract: 5758.01
  • Tax Lot: 21
Community / Development
Community / Development
  • Community Features: Biking, Dog Park, Park
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 6-10 Units/Acre, Park Nearby
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: None
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: None
Property / Structure Info
  • Builders Tract Name: Drake Park
  • Builders Tract Code: Drake Park (DP)
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,324
  • Unit Type Total Rent: $3,972
  • Unit Type Pro Forma: 4950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,650
  • Unit Type Total Rent: $1,650
  • Unit Type Pro Forma: 1650
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,195
  • Unit Type Total Rent: $1,195
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,750
  • Unit Type Total Rent: $1,750
  • Unit Type Pro Forma: 1750
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,430
  • Unit Type Total Rent: $2,806
  • Unit Type Pro Forma: 3900
  • Unit Type Type: 5
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 914 North Loma Vista Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 914 North Loma Vista Drive

Taxable ValueLand$727,760Additions$312,893Total$1,040,653
Tax Record2023$14,452 ($1,204 / month)
Home Facts
Total Finished SqFt4,502 SqFtAbove Grade Finished SqFt4,502 SqFtLot Size8,623 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLBPD10CountyLOS ANGELESAPN7271-020-004

Schools near 914 North Loma Vista Drive

This home is within Long Beach Unified School District.
Rating
School
Type
Grades
Distance
Edison Elementary School
Public - K to 5
Washington Middle School
Public - 6 to 8
Cabrillo High School
Public - 9 to 12
Renaissance High School For The Arts
Public - 9 to 12
Rating
School
Distance
Edison Elementary School
PublicK to 5

Washington Middle School
Public6 to 8

Cabrillo High School
Public9 to 12

Renaissance High School For The Arts
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 914 North Loma Vista Drive, Long Beach, CA 90813

914 North Loma Vista Drive is a mixed use property for sale in Long Beach, CA 90813. This property was listed for sale on October 1, 2023 by JMS Manage Sell PC, it's currently listed at $2,200,000. It has been on the market for a total of 194 days and was last sold on February 17, 2015. This listing's school district is Long Beach Unified School District. Nearby schools include Edison Elementary School, Washington Middle School and Cabrillo High School. 914 North Loma Vista Drive is a 5-bed, 7-bath, 4,502 sqft mixed use property built in 1922.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of JMS Manage Sell PC, Scott Burns, DRE #01989612

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.