$ 1,300,000
263 Covina Avenue Long Beach, CA 90803
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$ 1,300,000
Est. payment /mo
Pending
263 Covina Avenue Long Beach, CA 90803
4 Beds
4 Baths
4,878 Sqft Lot
UPDATED:
10/22/2024 12:31 PM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID PW24213157
Bedrooms 4
HOA Y/N No
Lot Size 4,878 Sqft
Property Description
Extremely rare opportunity to own a fourplex in the highly sought after coastal community of Belmont Shore. The Belmont Shore lifestyle offers exceptional recreation and life-style opportunities. This equates to a strong rental market. You can walk to 2nd Street for shopping and restaurants or the beach. It is located north of 2nd Street where street parking is easier to obtain. This property has 4 one bedroom/one bath units. It also has 2 double car garages renting for $200 each. Actual rents total $7,826 per month which equals a 13.8 GRM. Potential rents based on the average RentOmeter analysis equals $8,196 per month, for a 13.2 GRM.
Extremely rare opportunity to own a fourplex in the highly sought after coastal community of Belmont Shore. The Belmont Shore lifestyle offers exceptional recreation and life-style opportunities. This equates to a strong rental market. You can walk to 2nd Street for shopping and restaurants or the beach. It is located north of 2nd Street where street parking is easier to obtain. This property has 4 one bedroom/one bath units. It also has 2 double car garages renting for $200 each. Actual rents total $7,826 per month which equals a 13.8 GRM. Potential rents based on the average RentOmeter analysis equals $8,196 per month, for a 13.2 GRM.
Extremely rare opportunity to own a fourplex in the highly sought after coastal community of Belmont Shore. The Belmont Shore lifestyle offers exceptional recreation and life-style opportunities. This equates to a strong rental market. You can walk to 2nd Street for shopping and restaurants or the beach. It is located north of 2nd Street where street parking is easier to obtain. This property has 4 one bedroom/one bath units. It also has 2 double car garages renting for $200 each. Actual rents total $7,826 per month which equals a 13.8 GRM. Potential rents based on the average RentOmeter analysis equals $8,196 per month, for a 13.2 GRM.
Location
State CA
County Los Angeles
Area Long Beach (90803)
Zoning Assessor
Exterior
Garage Unit1:Assigned
Building
Lot Description Corner Lot, Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Others
Monthly Total Fees $66
Acceptable Financing Cash
Space Rent $1,880
Listing Terms Cash
Listed by W. Kurt Wood • Belmont Brokerage & Mgmt. INC.