$7,400,000 - 1751 Loma Avenue, Long Beach

  • 0Beds
  • Baths
  • 22,006SQ. Feet
  • 0.38Acres

The Loma View Apartments, located at 1751 Loma Avenue, is a 24-unit value-add asset in the Eastside/Traffic Circle area, a central, accessible and highly-sought-after rental location in Long Beach. The balcony-style building offers a mix of sizable (4) three-bedroom/two-bathroom, (10) two-bedroom/two- bathroom, (8) two-bedroom/one-bathroom and (2) one-bedroom/one-bathroom units with on-site laundry, ample parking and a community swimming pool. Located in a convenient and accessible location with a changing demographic. This demographic is looking for higher-end amenities found in the brand new buildings in Downtown Long Beach and near the shoreline, but with the accessibility of the Traffic Circle location and its close proximity to major thoroughfares leading to nearby employment opportunities and retail amenities for daily errands and living needs. This is an excellent repositioning opportunity to capture a more affluent demographic. The existing pool area and central courtyard area provides an excellent opportunity for repositioning to appeal to this more affluent demographic coming into the area. In addition to the community areas, one unit has been fully renovated to demonstrate the potential for upgrading all units to capitalize on the area's increasing market rents. The Loma View Apartments offers investors a rare opportunity to own a value-add asset with 20%+/- rental upside potential in a rapidly developing and central submarket.

Sales Agent

Sam SmithBeach Cities Real EstatePhone: 562-355-8228 Cell: 562-355-8228 Contact Agent Now

Essential Information

  • MLS® #:PW19086545
  • Price:$7,400,000
  • Bathrooms:0.00
  • Square Footage:22,006
  • Acres:0.38
  • Year Built:1964
  • Type:Residential Income
  • Status:Active

Community Information

  • Address:1751 Loma Avenue
  • Area:Eastside, Circle Area (3)
  • Subdivision:Circle (CA)
  • City:Long Beach
  • County:Los Angeles
  • State:CA
  • Zip Code:90804

Amenities

  • Parking Spaces:25
  • Has Pool:Yes

Exterior

  • Lot Description:21-25 Units/Acre

Additional Information

  • Date Listed:April 18th, 2019
  • Days on Market:31
  • Zoning:LBR4R

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  • Price Range:
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  • Current Listings:
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  • HOA Dues:
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  • Average Price per Square Foot:
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  • Link:
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Provided By: Robert Stepp(01456379), Keller Williams Pacific Estate.

Based on information from California Regional Multiple Listing Service, Inc. as of May 20th, 2019 at 4:12am CDT. 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.