Property Detail

Description

Welcome to 844 Loma Avenue, a rare investment opportunity located in the desirable Eastside Circle Area of Long Beach. This residential income property offers three units across a spacious 3,048 square feet of living area on a generous 6,760 square foot lot. The private parking lot in the rear of building can hold 6 vehicles. Built in 1988, the building combines modern construction with strong rental appeal, making it an excellent choice for both seasoned investors and those looking to expand their portfolio. 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 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 and includes a family room with fireplace, 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.