Extremely rare opportunity to own a fourplex in the highly sought after coastal community of Belmont Shore. The Belmont Shore lifestyle offers exceptional recreation and life-style opportunities. This equates to a strong rental market. You can walk to 2nd Street for shopping and restaurants or the beach. It is located north of 2nd Street where street parking is easier to obtain. This property has 4 one bedroom/one bath units. It also has 2 double car garages renting for $200 each. Actual rents total $7,826 per month which equals a 13.8 GRM. Potential rents based on the average RentOmeter analysis equals $8,196 per month, for a 13.2 GRM.
Sold for $1,450,000
Listed by: Belmont Brokerage & Mgmt. INC. • W. Kurt Wood • Contact: 562-437-3581
Bought with: Belmont Brokerage & Mgmt. INC.
Tax assessed value
$1,450,000
263 Covina Ave, Long Beach, CA 90803
4beds
4baths
2,880sqft
Multi Family
Built in 1943
-- sqft lot
$1,980,800 Zestimate®
$503/sqft
$3,397 Estimated rent
Home value
$1,980,800
$1.74M - $2.26M
$3,397/mo
Zestimate® history
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$3,397/mo
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$9,252/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
W. Kurt Wood DRE #00452182 562-301-6763,
Belmont Brokerage & Mgmt. INC.
Bought with:
W. Kurt Wood, DRE #00452182
Belmont Brokerage & Mgmt. INC.
Source: CRMLS,MLS#: PW24213157
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Cooling
- None
Appliances
- Laundry: Common Area
Features
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 2,880
- Total interior livable area: 2,880 sqft
Property
Parking
- Total spaces: 2
- Parking features: Assigned
- Garage spaces: 2
Features
- Entry location: 1
- Pool features: None
- Spa features: None
- Has view: Yes
- View description: None
Lot
- Size: 4,878 Square Feet
- Features: Corner Lot
Details
- Parcel number: 7249012027
- Zoning: LBR4R
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Contemporary
- Property subtype: Multi Family
Materials
- Foundation: Raised
- Roof: Flat
Condition
- New construction: No
- Year built: 1943
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Community & HOA
Community
- Features: Street Lights, Suburban, Sidewalks
- Subdivision: Belmont Shore (Bsd)
Location
- Region: Long Beach
Financial & listing details
- Price per square foot: $503/sqft
- Tax assessed value: $1,450,000
- Annual tax amount: $19,262
- Date on market: 10/16/2024
- Cumulative days on market: 5 days
- Listing terms: Cash,Cash to New Loan
- Tenant pays: Cable TV, Electricity, Gas
- Road surface type: Alley Paved, Paved
Price history
| Date | Event | Price |
|---|---|---|
| 12/16/2024 | Sold | $1,450,000+11.5%$503/sqft |
Source:  CRMLS #PW24213157 Report a problem | ||
| 10/21/2024 | Pending sale | $1,300,000$451/sqft |
Source: CRMLS #PW24213157 Report a problem | ||
| 10/16/2024 | Listed for sale | $1,300,000$451/sqft |
Source: CRMLS #PW24213157 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $19,262 +168.4% | $1,450,000 +183.1% |
| 2024 | $7,177 +1.8% | $512,231 +2% |
| 2023 | $7,052 +6.3% | $502,188 +2% |
| 2022 | $6,633 +2.3% | $492,342 +2% |
| 2021 | $6,484 +0.3% | $482,689 +1% |
| 2020 | $6,467 | $477,741 +2% |
| 2019 | $6,467 +4.6% | $468,375 +2% |
| 2018 | $6,183 | $459,192 +2% |
| 2017 | $6,183 +1.1% | $450,189 +2% |
| 2016 | $6,118 +7.6% | $441,362 +1.5% |
| 2015 | $5,686 +4.4% | $434,733 +2% |
| 2014 | $5,445 | $426,218 +2.5% |
| 2012 | -- | $415,975 +2% |
| 2011 | -- | $407,820 +0.8% |
| 2010 | -- | $404,774 -0.2% |
| 2009 | -- | $405,737 +2% |
| 2008 | -- | $397,782 +2% |
| 2007 | -- | $389,984 +2% |
| 2006 | -- | $382,338 |
| 2005 | -- | $382,338 +4% |
| 2004 | -- | $367,493 +1.9% |
| 2003 | -- | $360,759 +2% |
| 2002 | -- | $353,686 +4% |
| 2000 | -- | $339,954 |
Find assessor info on the county website
Neighborhood: Belmont Shore
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Nearby schools
GreatSchools rating
- 7/10Lowell Elementary SchoolGrades: K-5Distance: 0.2 mi
- 8/10Rogers Middle SchoolGrades: 6-8Distance: 0.3 mi
- 6/10Wilson High SchoolGrades: 9-12Distance: 1.1 mi
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Estimated market value
$1,980,800
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Estimated market value
$1,980,800
- California
- Los Angeles County
- Long Beach
- 90803
- Belmont Shore
- 263 Covina Ave
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