Four-Unit Residential Income
246 Newport Long Beach, CA 90803
For Sale
Contact for pricing
Four-unit rental property with two-bedroom home, duplex, and studio above a two-car garage, plus shared backyard.
Property Size2,400 SF
Price / SF$689.58
Days on Market89
Property Features for 246 Newport
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1922
Listing Agency:
Marcus & Millichap - South Bay
Listed By:
Steve "Bogie" Bogoyevac · License #CA 01332755
Source:
Crexi
Added: Apr 27
Changed: Jul 20
Last Checked: Jul 23 at 1:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - South Bay
Investment Insights
Based on property information with market context.
246 Newport Avenue is a four-unit residential income property with a mix of single-family and attached configurations. The building includes a two-bedroom, one-bath single-family home, a duplex featuring a studio and a one-bedroom unit with an office, and a studio located above a two-car garage. Tenants have access to a shared backyard, and the property is professionally managed.
Located in Long Beach’s Belmont Heights neighborhood, the property is about four blocks from Bluff Park and the beach. It also offers walkability to restaurants along Broadway and is less than one mile from the dining, retail, and entertainment corridor on Second Street. Additional proximity to California State University, Long Beach, recreation, and freeway access supports ongoing rental demand.
For owners, the current setup provides in-place cash flow through existing units, with room for a new owner to benefit from the two-bedroom home configuration.
Located in Long Beach’s Belmont Heights neighborhood, the property is about four blocks from Bluff Park and the beach. It also offers walkability to restaurants along Broadway and is less than one mile from the dining, retail, and entertainment corridor on Second Street. Additional proximity to California State University, Long Beach, recreation, and freeway access supports ongoing rental demand.
For owners, the current setup provides in-place cash flow through existing units, with room for a new owner to benefit from the two-bedroom home configuration.
Key Highlights
- Four‑unit rental property built in 1922 in Belmont Heights
- Mix of units: two‑bedroom/one‑bath single‑family home, duplex with studio + one‑bedroom (office), and studio above a two‑car garage
- Shared backyard for tenant use
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.8k | $32.40 |
| − Vacancy | −$4.0k | −$1.68 |
| EGI | $73.7k | $30.72 |
| − OpEx | −$22.1k | −$9.21 |
| NOI | $51.6k | $21.50 |
2,400 SF · lease $32.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$737.2K
$645.0K – $860.0K
NOI $51,602 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$655.7K
$573.7K – $764.9K
NOI $45,896 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,947 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit rental property with two-bedroom home, duplex, and studio above a two-car garage, plus shared backyard.
Where is this quadplex located?
The property is located at 246 Newport Long Beach, CA.
What is the asking price?
The asking price for this property is $1,655,000.
What are key features of this property?
This property features: Four‑unit rental property built in 1922 in Belmont Heights; Mix of units: two‑bedroom/one‑bath single‑family home, duplex with studio + one‑bedroom (office), and studio above a two‑car garage; Shared backyard for tenant use
