$1,655,000
246 Newport
Long Beach, CA 90803
2
Beds
1
Baths
1,000
Sq. Ft.
1922
Year Built
Los Angeles
County
SingleFamilyResidence
Property Type
About this home
Excellent opportunity for a new owner to occupy a charming two-bedroom/one-bath Craftsman home and utilize the rental income from three apartment units to offset the mortgage. 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.
Property Details
Architecture
Features & Amenities
Property Features
Community
Tax & Financial
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Mortgage Estimate
$8,809/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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