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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$1,655,000

Est. payment - /mo

6,786 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Belmont Heights (Bh)

MLS Listing ID PW26090530

HOA Y/N No

Year Built 1922

Lot Size 6,786 Sqft

Property Sub-Type Quadruplex

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.

Location

State CA

County Los Angeles

Area 2 - Belmont Heights, Alamitos Heights

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Urban

Total Parking Spaces 2

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7264001031

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Steven Bogoyevac Steven M. Bogoyevac, Broker steve.bogoyevac@marcusmillichap.com, DRE #01332755

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246 Newport Long Beach, CA 90803