Renovated Four-Unit Apartment
For Sale
$2,395,000
263 Corona Avenue, Long Beach, CA 90803
Long Beach quadplex with oversized apartments, upgraded interiors, private outdoor areas, and four garage parking spaces.
Property Size4,312 SF
Lot Size0.19 Acres
Price / SF$555.43
Days on Market77
Property Features for 263 Corona Avenue
General Information
Standard status
Active
Size
4,312 SF
Total Parking Spaces
4
Lot size
0.19 Acres
Property subtype
Quadruplex
Site & Location
Neighborhood
Belmont Shore
Units
Unit Mix
1 x 2BR/1BA with den, 1 x 1BR/1.5BA, 2 x 1BR/1BA
Multifamily Units
4
Amenities
upgraded kitchens
upgraded bathrooms
hardwood flooring
vaulted ceilings
copper plumbing
ducted HVAC
private outdoor areas
hardscaped patio
Building Details
Building Size
4,312 SF
Year Built
1943
Listing Agency:
Sage Real Estate Group, Inc.
Listed By:
Juan Huizar · License #01417642
(562) 307-0838
Source:
Velocityrealtysd
Added: Aug 12
Changed: Oct 25
Last Checked: Oct 26 at 11:16PM
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 Sage Real Estate Group, Inc.
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Investment Insights
Based on property information with market context.
This four-unit apartment property at 263 Corona Avenue includes approximately 4,312 square feet of living area on an 8,104-square-foot lot. The unit mix comprises one two-bedroom, one-bath apartment with a den; one oversized one-bedroom, one-and-a-half-bath residence; and two one-bedroom, one-bath units. Two apartments measure approximately 1,450 and 1,550 square feet. Improvements include upgraded kitchens and bathrooms, hardwood floors, vaulted ceilings, copper plumbing, and ducted HVAC in the downstairs units.
The rear one-bedroom residence has been renovated with high ceilings, Viking appliances, built-in interior and exterior audio, a walk-in closet, and a primary bath with a Jacuzzi tub, separate shower, and dual sinks. Two two-car garages provide four garage parking spaces. Private outdoor areas and a hardscaped patio add usable exterior space. The property is in Long Beach's Belmont Park neighborhood, with a Walk Score of 91, a Bike Score of 79, and a Transit Score of 36. Built in 1943.
The rear one-bedroom residence has been renovated with high ceilings, Viking appliances, built-in interior and exterior audio, a walk-in closet, and a primary bath with a Jacuzzi tub, separate shower, and dual sinks. Two two-car garages provide four garage parking spaces. Private outdoor areas and a hardscaped patio add usable exterior space. The property is in Long Beach's Belmont Park neighborhood, with a Walk Score of 91, a Bike Score of 79, and a Transit Score of 36. Built in 1943.
Key Highlights
- Four‑unit apartment property at 263 Corona Ave, Long Beach, CA 90803
- Approximately 4,312 square feet on an 8,104‑square‑foot lot
- Unit mix includes 1 two‑bedroom unit with den, 1 one‑bedroom/1.5‑bath unit, and 2 one‑bedroom/1‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,711
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,854,220
$1.9M
Cap Rate 7%
$1,324,443
$1.3M
Cap Rate 9%
$1,030,122
$1.0M
Market Conditions
NOI Build-Up for 4,312 SF
Gross rent
$139.7K $32.40/SF
− Vacancy
−$7.3K −$1.68/SF
EGI
$132.4K $30.72/SF
− OpEx
−$39.7K −$9.21/SF
NOI
$92.7K $21.50/SF
Area
Long Beach, CA
Vacancy
5.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,854,220
Cap Rate 7%
$1,324,443
Cap Rate 9%
$1,030,122
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.55M
NOI $92,711 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,461 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$2.31M
$2.02M – $2.69M
NOI $161,604 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,544
Businesses Nearby
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Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Long Beach quadplex with oversized apartments, upgraded interiors, private outdoor areas, and four garage parking spaces.
Where is this quadplex located?
The property is located at 263 Corona Avenue Long Beach, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Four‑unit apartment property at 263 Corona Ave, Long Beach, CA 90803; Approximately 4,312 square feet on an 8,104‑square‑foot lot; Unit mix includes 1 two‑bedroom unit with den, 1 one‑bedroom/1.5‑bath unit, and 2 one‑bedroom/1‑bath units
