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Listed by Steven Bogoyevac • Steven M. Bogoyevac, Broker
$1,655,000
Est. payment /mo
2,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $689
MLS Listing ID PW-26090530
Year Built 1922
Lot Size 6,788 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Marcus & Millichap is pleased to present 246 Newport Avenue, a charming four-unit investment opportunity in Long Beach's highly desirable Belmont Heights neighborhood, which is known for its tree-lined streets, Craftsman architecture, and strong tenant appeal. The property features a two-bedroom/one-bath single-family home, a duplex containing one studio and one one-bedroom unit with an office, and a studio above a two-car garage. Tenants also enjoy a shared backyard.
246 Newport Avenue boasts an exceptional rental location just four blocks from Bluff Park and the beach, walkability to popular restaurants along Broadway, and less than one mile from the vibrant dining, retail and entertainment corridor on Second Street. Its proximity to California State University, Long Beach, recreation, freeway access, and employers support consistent rental demand.
The property has been professionally managed and provides stable in-place cash flow with potential upside. The two-bedroom home presents an ideal opportunity for a new owner to occupy the home and utilize rental income of the apartment units to offset mortgage costs.
246 Newport Avenue boasts an exceptional rental location just four blocks from Bluff Park and the beach, walkability to popular restaurants along Broadway, and less than one mile from the vibrant dining, retail and entertainment corridor on Second Street. Its proximity to California State University, Long Beach, recreation, freeway access, and employers support consistent rental demand.
The property has been professionally managed and provides stable in-place cash flow with potential upside. The two-bedroom home presents an ideal opportunity for a new owner to occupy the home and utilize rental income of the apartment units to offset mortgage costs.
Location
State CA
County Los Angeles
Area 2 - Belmont Heights, Alamitos Heights
Interior
Laundry None
Exterior
Garage Spaces 2.0
Pool None
Community Features Urban
Building
Lot Description Rectangular Lot
Sewer Public Sewer
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900