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Listed by Steven Bogoyevac, DRE #01332755 • Steven M. Bogoyevac, Broker
$ 1,725,000
Est. payment | /mo
3,148 Sqft Lot
$ 1,725,000
Est. payment | /mo
3,148 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26133260
Year Built 1949
Lot Size 3,148 Sqft
Source California Regional MLS
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
Laundry Community Facility
Exterior
Garage Spaces 1.0
Pool None
Building
Water District - Public
Others
Tax ID 7256035009
Special Listing Condition Not Applicable
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