8 bedroom house for sale
Long Beach CA 90813
- Property Type
- House
- Price
- $2,200,000
- Beds
- 8
- Baths
- 7
Overview
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 and 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).
Details
- Beds: 8
- Baths: 7
- Price: $2,200,000
- Reference No.: 69236649
- Area: 4,502 sqft
Location
Long Beach CA 90813
8 bedroom house for saleRelated Properties
Disclaimer
2024-03-30, Viewed 0 times.
The information about this listing comprises a listing advertisement. Listanza makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. Further, Listanza has no control over the content. The information is provided and maintained by the owner/agent. Please contact the owner/agent directly to obtain any additional information.
2024-03-30, Viewed 0 times.
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