Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 244 – 246 Coronado Avenue, an 18-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California. Specifically, the property is located in the Bluff Heights neighborhood, one of the most desirable areas in the city. The building is also within walking distance to numerous local and national retail stores and just over one mile from the beach.
Situated on a 0.33-acre lot, the 14,045 square foot property consists of 3, one-bedroom units, 13, two-bedroom units, 1, two-bedroom townhouse, and 1 three-bedroom unit. Built in 1962, 244 – 246 Coronado Avenue offers amenities including a professionally landscaped courtyard, garage parking, screen doors, and on-site laundry.
Additionally, 39% of units have been completely or partially remodeled. Upgrades include new bathrooms, flooring, faucets, stainless steel appliances, patio fencing, and more (please contact listing broker for more information).
The property offers an investor the ability to capture tenants seeking a great beach neighborhood with convenient access to a wide variety of activities, transportation, and retail amenities. This overall demand will be a major driver in creating strong returns and future value appreciation at 244 – 246 Coronado Avenue.