40 Ximeno, Long Beach, CA 90803
- $1,895,000
- List Price
- $1,895,000
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- PW26133260
- Year Built
- 1949
- Lot Size
- 3,148
- Acres
- 0.07
- Lot Location
- Rectangular Lot
- Days on Market
- 39
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Neighborhood
- Belmont Shore (Bsd)
Property Description
Exciting opportunity to acquire the prime Belmont Shore apartment building located at 40 Ximeno Avenue in Long Beach! This asset is just five parcels from Ocean Avenue and the sand in a sought-after affluent coastal market. Current rents are 50 percent below market, making this an excellent value-add opportunity in a high demand submarket. 40 Ximeno Avenue offers a diverse mix of one studio with a large walk-in closet, four one-bedroom/one-bath units, and one two-bedroom/one-bath unit with a den. Of the six units, five feature new vinyl plank flooring and four boast new showers. The property also features a newer roof, laundry facilities, one covered parking space, and a storage space. The building’s outstanding location offers residents enviable proximity to quintessential California living amenities: the beach, Belmont Plaza Pool, Belmont Pier, and the vibrant Second Street corridor’s dining, retail and entertainment. This area has a strong and steady tenant base with an average household income over $140,000. Rental demand is further supported by proximity to Cal State Long Beach, employers, and freeways.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 6
- Gross Scheduled Income
- $122,220
- Operating Expense
- 46749
Listing courtesy of Listing Agent: Steven Bogoyevac (steve.bogoyevac@marcusmillichap.com) from Listing Office: Steven M. Bogoyevac, Broker.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.