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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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Price

$2,050,000

Annual Income

$110,580

Annual NOI

$65,990

Annual Expense

$40,024

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
132$0$0$5,295$5,295
111$1,960$1,960$2,395$2,395
111$1,960$1,960$2,395$2,395
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
354$3,920$10,085

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