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Diego Magdaleno

diego@1visionre.com +1(714) 376-8652

$1,895,000

Est. payment - /mo

3,149 Sqft Lot

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UPDATED:

Key Details

Property Type Single Family Home, Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Subdivision Belmont Shore (Bsd)

MLS Listing ID PW26133260

HOA Y/N No

Year Built 1949

Lot Size 3,149 Sqft

Property Sub-Type Mixed Use

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.

Location

State CA

County Los Angeles

Area 1 - Belmont Shore/Park, Naples, Marina Pac, Bay Hrbr

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 1.0

Garage Description 1.0

Pool None

Community Features Suburban

Total Parking Spaces 1

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7256035009

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Steven Bogoyevac Steven M. Bogoyevac, Broker steve.bogoyevac@marcusmillichap.com, DRE #01332755

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40 Ximeno Long Beach, CA 90803