844 Loma AVE Long Beach, CA 90804
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Eastside (Es)
MLS Listing ID PW25230166
HOA Y/N No
Year Built 1988
Lot Size 6,760 Sqft
Property Sub-Type Triplex
Property Description
The property features one three-bedroom, one-bath unit and two one-bedroom units. Each unit is individually metered for gas and electricity, giving tenants responsibility for their own utilities while reducing operating expenses for the owner. Current rental income provides steady cash flow with upside potential. The three-bedroom unit is currently rented at $1,200 per month with a pro forma of $3,500. The two one-bedroom units rent at $890 and $907 per month, with a pro forma of $1,800 each. With a gross scheduled income of $35,964 and a net operating income of $29,422, the building provides a solid return while still allowing room for rental growth in this high-demand area.
Interior highlights include a spacious floor plan, a large living room with fireplace, and laundry hookups inside each unit for tenant convenience. The 3 brm unit is 1,500 square feet, while the 1 brm units average 750 square feet, offering comfortable living spaces for a variety of tenant needs. The property has been thoughtfully designed to maximize privacy, with no shared common walls and ample separation between units.
The exterior of the building is situated on a quiet residential street lined with sidewalks and mature trees, yet it remains close to major transportation routes, shopping, schools, and recreation. Tenants enjoy the convenience of being near public transit, as well as the walkable nature of the neighborhood. The lot offers potential flexibility for improvements, subject to city requirements. Operating costs remain low, supported by modest expenses for insurance, water, and landscaping.
Long Beach continues to attract investors due to its strong rental market, employment base, and proximity to beaches, downtown, and freeways. Properties in this area are highly sought after, both for their rental stability and long-term appreciation potential.
This is an excellent chance to acquire a well-positioned, income-generating property in a growing coastal city. Do not miss the opportunity to add this triplex to your portfolio.
Location
State CA
County Los Angeles
Area 3 - Eastside, Circle Area
Interior
Interior Features Bedroom on Main Level
Heating Central
Cooling None
Fireplaces Type Living Room
Fireplace Yes
Laundry Inside
Exterior
Pool None
Community Features Curbs, Street Lights, Suburban, Sidewalks
View Y/N Yes
View Neighborhood
Private Pool No
Building
Lot Description Near Public Transit, Walkstreet
Story 2
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7254014010
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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