265 Corona Ave, Long Beach
Price improvement! Join us for an open house Sunday, April 6th from 1-4pm. Welcome to this exceptional 3-unit property in the highly desirable Belmont Shore neighborhood! 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! This property is back on market as the buyers were unable to obtain loan approval.
Property Details
- Units: 3
- Gross Rent Multiplier: 18.54
- Cap Rate: 3.3%
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Contact Listing AgentPrice
$2,050,000
Annual Income
$110,580
Annual NOI
$65,990
Annual Expense
$40,024
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 3 | 2 | $0 | $0 | $5,295 | $5,295 |
| 1 | 1 | 1 | $1,960 | $1,960 | $2,395 | $2,395 |
| 1 | 1 | 1 | $1,960 | $1,960 | $2,395 | $2,395 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 3 | 5 | 4 | $3,920 | $10,085 |
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