DRE #00338699
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1751 Loma Avenue $7,400,000


1751 Loma Avenue Long Beach, CA 90804

  • 0 Beds
  • 0 Baths
  • 22,006 sq.ft.
  • Multi-Family
MLS# PW19086545 | Active
Days On Market: 125 2 Views
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Property Details

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.

  • General Features
    • Number Of Separate Water Meters 1
    • Number Of Separate Electric Meters 24
    • Number Of Separate Gas Meters 24
    • Number Of Units Total 24
    • Year Built 1964
    • Subdivision Name Circle (CA)
    • County Or Parish Los Angeles
    • Number Of Buildings 1
    • Community Features Sidewalks, Urban
  • Building Features
    • Interior Features Ceiling Fan(s)
    • Laundry Features Community
  • Property Features
    • Lot Size Acres 0.38
    • Lot Features 21-25 Units/Acre
    • Pool Private Y/N 0
    • Pool Features Community
    • Parking Total 25.00



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Market Last 30 Days

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Property History

Date Event Price Percent Change
-- Current Price Source New Value: $7,400,000
5/15/2019 11:16:58 AM Price Reduced Source New Value: $7,400,000 -5.73%
4/18/2019 3:49:00 PM New in Database Source New Value: $7,850,000

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Based on information from California Regional Multiple Listing Service, Inc. as of 8/22/2019 2:56:20 PM. 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.