$1,174,900
$125K PRICE DROP

Estimated payment $7,379/month

Total Views 11,952
6 Beds
5 Baths
2,644 Sq Ft
$444 Price per Sq Ft

Highlights

  • River View
  • Open Floorplan
  • No HOA
  • 0.15 Acre Lot
  • Quartz Countertops
  • 3-minute walk to Drake Park

About This Home

Located in a Qualified Opportunity Zone, this exceptional investment opportunity sits in the heart of Long Beach! This versatile 5-unit rental property offers a highly desirable layout and prime location, making it an easy-to-rent option for savvy investors or owner-occupants.
At the front of the expansive lot, a cozy 2-bedroom, 1-bath house greets you with its inviting character. The front house offers a private garage and a dedicated laundry area. Step inside to find a comfortable living space with plenty of potential to make it your own home, or use as the premier rental unit of the five offerings.
Behind the front house, you’ll find four (4) additional 1-bedroom, 1-bath units, each with its own covered front porch—perfect for enjoying Long Beach’s coastal breeze. One of these units was just beautifully remodeled and is now vacant, ready to welcome a new tenant or even a potential owner. The remodeled unit features wide plank light oak laminate flooring, custom built-in cabinetry in the living room, crisp white shaker kitchen cabinets, elegant quartz countertops, and stylish five-panel shaker doors. With new plumbing and abundant natural light, this unit stands out as a bright and modern living space, showcasing the possibilities with the remaining units.
The other four units are tenant-occupied, offering steady income from day one, and they come with great potential for updates to further increase investment value. Each unit has its own separate electric and gas meter, adding convenience for both tenants and management.
Situated on a spacious 6,674 sq. ft. lot, this property also boasts a recently replaced roof, and designation within the Historic District.
The location is unbeatable—just 1.5 miles from Shoreline Village, where you’ll find a variety of dining and entertainment options. The iconic Queen Mary is only 2 miles away, and Drake Park, with its soccer fields, tennis courts, and playground, is within walking distance. Around the corner, you’ll also discover the Historic Bembridge House, adding a touch of local charm and history to the neighborhood.
This property offers the perfect blend of modern updates, historic appeal, and prime location, making it a rare gem in Long Beach. Whether you’re looking to grow your investment portfolio or secure a steady income stream, 1070 Loma Vista Drive is a must-see. Don’t miss this incredible opportunity!

Listing Agent

Devin Lucas

Coldwell Banker Realty Brokerage Phone: 949-478-1135 License #01912302 Listed on: 01/07/2025

Coldwell Banker Realty

Co-Listing Agent

Courtney Lucas

Coldwell Banker Realty Brokerage Phone: 949-478-1135 License #02015514

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1919 | Remodeled

Lot Details

  • 6,674 Sq Ft Lot
  • No Common Walls
  • Chain Link Fence
  • Density is 2-5 Units/Acre

Parking

  • 3 Open Parking Spaces
  • 1 Car Garage
  • Parking Available
  • Driveway

Property Views

  • River
  • Woods
  • Park or Greenbelt
  • Neighborhood

Home Design

  • Quadruplex
  • Entry on the 1st floor
  • Slab Foundation

Interior Spaces

  • 2,644 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Built-In Features
  • Living Room
  • Storage

Kitchen

  • Galley Kitchen
  • Quartz Countertops

Flooring

  • Laminate
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Home Security

  • Window Bars
  • Fire and Smoke Detector

Utilities

  • Heating System Uses Natural Gas
  • Wall Furnace
  • Water Heater

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tax Lot 7271
  • Tax Tract Number 1
  • Assessor Parcel Number 7271021001

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 5 Units
  • Willmore District Subdivision

Recreation

  • Park

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $650
  • Insurance Expense $563
  • Maintenance Expense $1,694
  • Other Expense $2,022
  • Water Sewer Expense $2,305
  • Operating Expense $7,547
  • Net Operating Income $54,073

Property Details

Home Type

Multi-Family

Year Built

Built in 1919 | Remodeled

Lot Details

0

Parking

1

Listing Details

  • CapRate: 4.60
  • Price Per Unit: 234980
  • Property Attached: No
  • Road Frontage Type: City Street
  • Road Surface Type: Paved
  • Security: Smoke Detector(s), Window Bars
  • Subdivision Name Other: Willmore District (WM)
  • View: Yes
  • Water Sewer Expenses: 2305.00
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Quadruplex
  • Property Type: Residential Income
  • Gardener Expense: 650.00
  • Parcel Number: 7271021001
  • Year Built: 1919
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Built-in Features, Open Floorplan, Quartz Counters, Stone Counters, Storage
  • Stories: 1
  • Entry Location: 1
  • Common Walls: No Common Walls
  • Flooring: Laminate, Tile
  • Appliances: Yes
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 444.36
  • Room Type: All Bedrooms Down, Galley Kitchen, Kitchen, Living Room, Main Floor Bedroom, Primary Bedroom

Exterior Features

  • Foundation: Slab
  • View: Neighborhood, Park/Greenbelt, River, Trees/Woods
  • Fence: Yes
  • Fencing: Chain Link
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Driveway
  • Total Parking Spaces: 4.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Water Heater
  • Electric: Standard
  • Heating Type: Electric, Natural Gas, Wall Furnace
  • Laundry Features: Gas & Electric Dryer Hookup, Inside, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Park, Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6674.00
  • Lot Size Acres: 0.1532

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Telephone

Multi Family

  • Gross Scheduled Income: 61620.00
  • Insurance Expense: 563.00
  • Lot Size Area: 6674.0000 Square Feet
  • Maintenance Expense: 1694.00
  • Net Operating Income: 54073.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 5
  • Operating Expense: 7547.00
  • Other Expense: 2022.00
  • Other Expense Description: Prop Tax
  • Rent Control: Yes
  • Total Actual Rent: 3935.00
  • Total Expenses: 7547.00

Tax Info

  • Tax Lot: 7271
  • Tax Tract Number: 001

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/27/2025 05/27/25 Price Changed $1,174,900 -6.0% $444 / Sq Ft
03/14/2025 03/14/25 Price Changed $1,249,900 -3.8% $473 / Sq Ft
01/07/2025 01/07/25 For Sale $1,299,900 -- $492 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NP24251827

California Regional Multiple Listing Service (CRMLS)