246 Newport, Long Beach, California 90803, Long Beach, 90803 - 2 bed, 1 bath
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Long Beach, California 90803
Analysis of 246 Newport, Long Beach, California 90803 is currently available with a list price of $1,655,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Long Beach Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1922, the property is well-maintained but dated. The kitchen features 1990s-era white tile countertops and oak cabinetry, indicating the last major renovation was over 20 years ago. While functional and move-in ready for tenants, the systems and finishes require modernization to meet current market standards.
Elementary School: Lowell Elementary School (9/10).
This four-unit configuration offers a premier 'house-hacking' opportunity, allowing an owner-occupant to live in the main Craftsman home while three additional units provide significant rental income to offset mortgage costs.
Situated in the highly sought-after Belmont Heights neighborhood, the property is just four blocks from the beach and Bluff Park, offering exceptional walkability to the dining and retail hubs of Broadway and 2nd Street.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1000, other record living area = 1800. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 5.
Originally built in 1922, the property may require ongoing maintenance or costly upgrades to aging systems such as plumbing and electrical to meet modern standards and maintain its value.
With four separate residential units and only a two-car garage, the property lacks sufficient off-street parking, which can be a significant deterrent for tenants in a high-density neighborhood like Belmont Heights.
Excellent opportunity for a new owner to occupy a charming two-bedroom/one-bath Craftsman home and utilize the rental income from three apartment units to offset the mortgage. Marcus & Millichap is pleased to present 246 Newport Avenue, a charming four-unit investment opportunity in Long Beach’s highly desirable Belmont Heights neighborhood, which is known for its tree-lined streets, Craftsman architecture, and strong tenant appeal. The property features a two-bedroom/one-bath single-family home, a duplex containing one studio and one one-bedroom unit with an office, and a studio above a two-car garage. Tenants also enjoy a shared backyard. 246 Newport Avenue boasts an exceptional rental location just four blocks from Bluff Park and the beach, walkability to popular restaurants along Broadway, and less than one mile from the vibrant dining, retail and entertainment corridor on Second Street. Its proximity to California State University, Long Beach, recreation, freeway access, and employers support consistent rental demand. The property has been professionally managed and provides stable in-place cash flow with potential upside. The two-bedroom home presents an ideal opportunity for a new owner to occupy the home and utilize rental income of the apartment units to offset mortgage costs.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 19% |
| Baths | 1.0 | 3.0 | 12% |
| Square foot | 1,000 | 2,156 | 7% |
| Lot Size | 6,788 | 2,845 | 94% |
| Price | $1.66M | $1.89M | 37% |
| Price per sq ft | $1.7K | $927 | 94% |
| Built year | 1922 | 1947 | 7% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 148 | 6% |
Apr 30, 2026
$1,655,000
Initial Listing