265 Corona Ave, Long Beach, CA 90803-1896 | 265 Corona Ave
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265 Corona Ave, Long Beach, CA 90803-1896 265 Corona Ave
3 Unit Apartment Building $2,195,000 ($731,667/Unit) 3.45% Cap Rate Long Beach, CA 90803
Investment Highlights
- Located in the highly desirable Belmont Shore neighborhood of Long Beach.
- Standout 3-bedroom unit offers a blank canvas, ready for your personal touch.
- Close to top-rated schools, beautiful parks, and the lively 2nd Street Shopping & Dining District.
- Short distance to the canals and beaches.
- Situated on a spacious 7,400+ sq ft lot.
- Two double-car garages offer secure parking, storage, or potential ADU development.
Executive Summary
This exceptional 3-unit property is loacted in the highly desirable Long Beach neighborhood of Belmont Shore, just a short distance to the canals and beaches. Enjoy ocean breezes with the perfect blend of coastal living and vibrant community! The standout 3-bedroom unit offers a blank canvas, ready for your personal touch, with abundant natural light and a large backyard perfect for entertaining. Situated on a spacious 7,400+ sq ft lot, this property is close to top-rated schools, beautiful parks, and the lively 2nd Street Shopping & Dining District. Nearby area highlights include Marine Stadium (future 2028 Olympic venue), Belmont Pier, aquatic activities, and local favorites like Rosie’s Dog Beach. Enjoy community events like Stroll & Savor, the Belmont Shore Car Show, and holiday parades on 2nd Street. Plus, two double-car garages offer secure parking, storage, or potential ADU development. Don’t miss this rare opportunity to own in one of Long Beach’s most sought-after neighborhoods!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,195,000 | Property Subtype | Apartment |
| Price Per Unit | $731,667 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 3,616 SF |
| Cap Rate | 3.45% | Average Occupancy | 67% |
| Sale Conditions | 1031 Exchange | No. Stories | 2 |
| Gross Rent Multiplier | 18 | Year Built | 1945 |
| No. Units | 3 | Parking Ratio | 1.11/1,000 SF |
| Property Type | Multifamily |
| Price | $2,195,000 |
| Price Per Unit | $731,667 |
| Sale Type | Investment |
| Cap Rate | 3.45% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 18 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.17 AC |
| Building Size | 3,616 SF |
| Average Occupancy | 67% |
| No. Stories | 2 |
| Year Built | 1945 |
| Parking Ratio | 1.11/1,000 SF |
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Gas Range
- Trash Pickup - Curbside
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,205 | 750 |
| 3+2 | 1 | $4,995 | 2,100 |
1 of 1
Walk Score ®
Walker's Paradise (91)
Bike Score ®
Very Bikeable (79)
zoning
| Zoning Code | LBR4R |
| LBR4R |
-
Jeffrey Isenberg -
Buckingham Investments
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265 Corona Ave, Long Beach, CA 90803-1896 | 265 Corona Ave
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