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Price Reduction - Views
Address
1751 Loma Avenue Long Beach, CA
Price
$ 7,400,000
Property Attributes
  • MLS#PW19086545
  • TypeIncome
  • CountyLOS ANGELES
  • CityLong Beach
  • AreaEastside - Circle Area
  • NeighborhoodCircle
  • Zip90804
  • Style
  • Price$ 7,400,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage22006
  • Lot Size0.38 Acres
Listing Provided Courtesy Of:
Robert Stepp with Keller Williams Pacific Estate.
Property Description

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.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
4/18/2019 Listed $7,850,000
5/15/2019 6% - $7,400,000

General Features

Attached Structure Attached
Community Features Sidewalks, Street Lights, Urban
Directions Pacific Coast Highway & Redondo Ave
Listagentaor Pacific West
Listing Agent Robert Stepp - BRE#01456379
Listing Agent State License 01456379
MLS Area 3 - Eastside, Circle Area
Price Per Square Foot 336.27
Property Attached Y/N Yes
Security Features Gated Community
Source System CRMLS
Special Listing Conditions Standard
Subdivision Name Circle (CA)
Subdivision Name Circle (CA)
Total Units 24
Zoning LBR4R

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls 2+ Common Walls
Interior Features Ceiling Fan(s)
Laundry Features Community
Laundry Y/N Yes
Room Type Walk-In Closet
Studio Area Unit Type Square Feet

Exterior Features

Building Area Total 22006.00
Garage Spaces 25.00
Lot Features 21-25 Units/Acre
Lot Size Acres 0.3830
Lot Size Area 16685.0000
Lot Size Source Assessor
Lot Size Square Feet 16685.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 24
Number of Separate Gas Meters 24
Number of Separate Water Meters 1
Parking Features Garage, Parking Space, Subterranean
Parking Y/N Yes
Pool Features Community
Sewer Public Sewer
Total Parking 25.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90804

Price
AVG $1.45M
$7.4M
Visits
AVG 40
32
Year Built
AVG 1946
1964
Walkscore
AVG 84
80
Data Provided by Walkscore ® not using MLS data

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