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263 Covina AVE Long Beach, CA 90803
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Key Details
Sold Price $1,450,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision Belmont Shore (Bsd)
MLS Listing ID PW24213157
Sold Date 12/16/24
HOA Y/N No
Year Built 1943
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.
Location
State CA
County Los Angeles
Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr
Zoning LBR4R
Interior
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Street Lights, Suburban, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Flat
Total Parking Spaces 2
Private Pool No
Building
Lot Description Corner Lot
Story 2
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Contemporary
New Construction No
Others
Senior Community No
Tax ID 7249012027
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with W. Kurt Wood • Belmont Brokerage & Mgmt. INC.