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367 Loma, Long Beach, California 90814, Long Beach, 90814 - bed, bath

367 Loma, Long Beach, California 90814 home-pic-0
ACTIVE$1,320,000$2,192/sqft
367 Loma, Long Beach, California 90814
0Bed
0Bath
2,192Sqft
6,751Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Location: Situated in the highly desirable Belmont Heights neighborhood, offering proximity to Belmont Shore, dining, retail, and entertainment on 2nd Street.
Top Cons:
Historic Property Age: Built in 1923, the property may present ongoing maintenance challenges typical of older structures, despite recent system upgrades.

Compared to the nearby listings

Price:$1.32M vs avg $1.45M ($-133,750)21%
Size:2,192 sqft vs avg 2,203 sqft43%
Price/sqft:$602 vs avg $64350%

More Insights

Built in 1923 (103 years old).
Condition: Despite being built in 1923, the property benefits from recent and significant updates, including updated electrical panels, copper plumbing, remodeled bathrooms, and hardwood floors. At least one kitchen features stainless steel appliances and modern floor tile. While some elements like tile countertops and an older range in another unit prevent an 'Excellent' rating, the property is move-in ready with major systems addressed and interiors showing good maintenance and recent improvements.
Year Built
1923
Close
-
List price
$1.32M
Original List price
$1.32M
Price/Sqft
$602
HOA
-
Days on market
-
Sold On
-
MLS number
SB26002266
Home ConditionGood
Features
Good View:
View-

About this home

We are pleased to present 367 Loma Avenue, a charming 3-unit property located in the desirable Belmont Heights Neighborhood ideal for owner-users or investors. The property features a strong unit mix consisting of two 1-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit, along with three 1-car garage spaces. Additionally, there is a vacant “bonus unit” with a bathroom, presenting the potential for an ADU conversion into a fourth unit (buyer to verify). Situated on a large 6,751 square foot lot, the property benefits from ample storage areas and convenient on-site laundry. Recent improvements include updated electrical panels and copper plumbing, while unit interiors showcase hardwood floors, stainless steel appliances, and remodeled bathrooms. Ideally located in prime Belmont Heights, the property is just minutes from Belmont Shore and the vibrant dining, retail, and entertainment options along 2nd Street, making it a highly attractive investment in one of Long Beach’s most sought-after neighborhoods.

L
Larson Harley
Listing Agent

Price History

Date
Event
Price
08/06/14
Sold
$740,000
Condition Rating
Good
Despite being built in 1923, the property benefits from recent and significant updates, including updated electrical panels, copper plumbing, remodeled bathrooms, and hardwood floors. At least one kitchen features stainless steel appliances and modern floor tile. While some elements like tile countertops and an older range in another unit prevent an 'Excellent' rating, the property is move-in ready with major systems addressed and interiors showing good maintenance and recent improvements.
Pros & Cons

Pros

Prime Location: Situated in the highly desirable Belmont Heights neighborhood, offering proximity to Belmont Shore, dining, retail, and entertainment on 2nd Street.
Income-Generating Triplex: A well-established multi-unit property with a strong unit mix (two 1BD/1BA, one 2BD/1BA), ideal for immediate rental income.
ADU Conversion Potential: Includes a vacant 'bonus unit' with a bathroom, presenting a significant value-add opportunity for a potential fourth income-generating unit.
Key System Upgrades: Recent and essential updates to electrical panels and copper plumbing mitigate future capital expenditures and enhance property reliability.
Enhanced Unit Interiors & Amenities: Features like hardwood floors, stainless steel appliances, remodeled bathrooms, on-site laundry, and three 1-car garages boost tenant appeal and property value.

Cons

Historic Property Age: Built in 1923, the property may present ongoing maintenance challenges typical of older structures, despite recent system upgrades.
ADU Conversion Contingency: The potential for a fourth unit (ADU) is subject to buyer verification, implying possible regulatory complexities and additional investment to realize.
Unspecified HVAC Systems: The description does not mention central heating or air conditioning, which could be a comfort concern for tenants and a potential future upgrade expense.
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