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914 N Loma Vista Drive
USD 2,200,000
Property ID: PW23193787
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914 N Loma Vista Drive ,90813
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icon 8623 SqFt
icon Built in 1922
icon USD 255/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
4502
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1922
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Detailed Introduction Of This Home
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).
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
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Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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914 N Loma Vista Drive
USD 2,200,000 0 Beds
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