246 Newport, Long Beach, CA 90803
- $1,655,000
- List Price
- $1,655,000
- Status
- ACTIVE
- MLS#
- PW26090530
- Year Built
- 1922
- Lot Size
- 6,788
- Acres
- 0.16
- Lot Location
- Rectangular Lot
- Days on Market
- 91
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
- Neighborhood
- Belmont Heights (Bh)
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.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $107,220
- Operating Expense
- 32229
Listing courtesy of Listing Agent: Steven Bogoyevac (steve.bogoyevac@marcusmillichap.com) from Listing Office: Steven M. Bogoyevac, Broker.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.