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1024 Loma Avenue

1024 Loma Avenue,Long Beach, CA 90804

8

Unit

$2,250,000

Price

Property Details

Price Per Unit

$281,250

Price per SF

$527

Current Cap Rate

5.50%

Market Cap Rate

5.64%

Current GRM

11.95

Market GRM

11.75

1024 Loma Avenue

1024 Loma Avenue,Long Beach, CA 90804

$2,250,000

Price

Property Details

Price per SF

$527

Price Per Unit

$281,250

Price per SF

$527

Current Cap Rate

5.50%

Market Cap Rate

5.64%

Unit

8

Current GRM

11.95

Market GRM

11.75

Description

1024 Loma Avenue is an 8-unit apartment asset located in prime Eastside Long Beach, California offered at 11.95 GRM and 5.50% cap rate on current rents.
The property is comprised of (1) 2BD / 2BA unit, (1) 2BD / 1BA unit, and (6) 1BD / 1BA units. There is ample parking of ten (10) surface spaces.
All of the units have been fully remodeled
with recessed lighting, new flooring, new kitchen countertops, cabinetry, and stainless steel appliance, new bathroom vanities, tiling, and modern fixtures and features throughout. All renovated units offer in-unit washers and dryers.
The property is located in a prime Eastside neighborhood with a 91 Walk Score.

Highlights

  • Priced at 11.95 GRM and 5.50% Cap Rate on Current Rents
  • All Units Fully Renovated
  • Attractive Mix of 1BD and 2BD Units
  • Ample Parking – 10 Spaces
  • Prime Eastside Location – 91 Walk Score

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