244 Coronado Ave, Long Beach, CA 90803 For Sale

244–246 Coronado Avenue is an 18-unit multifamily asset located in the highly desirable Belmont Heights / Bluff Heights submarket of Long Beach—one of the city’s most supply-constrained coastal rental markets. The submarket commands a consistent rental premium driven by its walkability, historic character, and proximity to the ocean, with strong demand from affluent, educated renters.

The property features an attractive unit mix of three (3) 1BD/1BA units, fourteen (14) 2BD/1BA units, and one (1) 3BD/2BA unit. Most units have been upgraded with new modern kitchens and bathrooms, and the electrical system has been updated throughout the building.

The asset benefits from separately metered utilities and an in-place RUBS program, allowing for efficient expense recovery. Additional income is generated through on-site laundry facilities and nine (9) garages. The garage component also presents a clear ADU conversion opportunity, providing investors with a path to realize an additional $91,200 in annual rental income and increase overall asset value.

Situated between Bluff Heights and Belmont Heights, the property offers a premier coastal location within one of Long Beach’s most walkable and lifestyle-driven neighborhoods. Residents enjoy immediate access to the beach, Bluff Park, and the Shoreline bike path, along with nearby retail and dining amenities on Retro Row (4th Street) and Belmont Shore (2nd Street). The surrounding neighborhood is defined by its preserved early 20th-century architecture, tree-lined streets, and strong community identity—factors that continue to attract young professionals and long-term renters. With approximately 65% renter occupancy, above-average household incomes, and limited new construction, the area provides a deep, stable tenant base and long-term rent growth potential.

Overall, 244–246 Coronado Avenue offers investors the opportunity to acquire a well-located asset in a premier coastal submarket characterized by durable demand, high barriers to entry, and sustained rental premiums relative to the broader Long Beach market.