Renovated Apartment
For Sale
$2,695,000
1203 Ximeno, Long Beach, CA 90804
Income-producing multifamily property with updated interiors, on-site laundry, dedicated parking, and garage spaces.
Property Size5,700 SF
Days on Market182
Property Features for 1203 Ximeno
General Information
Standard status
Active
Size
5,700 SF
Total Parking Spaces
12
Property subtype
Apartment
Units
Unit Mix
7 x 2BR/1BA
Multifamily Units
7
Amenities
interior laundry
onsite laundry room
air conditioning
Building Details
Building Size
5,700 SF
Year Built
1963
Buildings
1
Stories
2
Listing Agency:
Sage Real Estate Group, Inc.
Listed By:
Cody Charnell · License #01950585
(562) 896-3851
Source:
Nolanrossre.kw
Added: Mar 10
Changed: Sep 5
Last Checked: Sep 6 at 4:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sage Real Estate Group, Inc.
Investment Insights
Based on property information with market context.
The property at 1203 Ximeno in Long Beach is a 7-unit apartment building constructed in 1963. Its configuration consists entirely of 2-bedroom, 1-bath units, with all seven residences extensively renovated. Six apartments offer interior laundry, complemented by a shared laundry room. Recent improvements include a 2022 roof, new windows, electrical sub panels, updated landscaping, fresh exterior paint, and new air-conditioning units throughout the building.
Parking includes 8 driveway spaces and 4 garages. The property is situated near the Traffic Circle, California State University of Long Beach, Wilson High School, Recreation Park Golf Course, and the retail and dining options along 2nd Street.
Parking includes 8 driveway spaces and 4 garages. The property is situated near the Traffic Circle, California State University of Long Beach, Wilson High School, Recreation Park Golf Course, and the retail and dining options along 2nd Street.
Key Highlights
- 7‑unit apartment building with an all 2‑bedroom, 1‑bath unit mix
- All seven units extensively renovated
- Six units include interior laundry; shared laundry room also on site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,004
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,180,080
$2.2M
Cap Rate 7%
$1,557,200
$1.6M
Cap Rate 9%
$1,211,156
$1.2M
Market Conditions
NOI Build-Up for 5,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$208.6K $36.60/SF
− Vacancy
−$10.4K −$1.83/SF
EGI
$198.2K $34.77/SF
− OpEx
−$89.2K −$15.65/SF
NOI
$109.0K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,180,080
Cap Rate 7%
$1,557,200
Cap Rate 9%
$1,211,156
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,004 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,623 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 90804, CA
39,370
Population
15,998
Households
2.5
Avg Household Size
33
Median Age
30%
College-Educated
75%
High-School Grad
2.2 sq mi
ZIP Area
17,895
Density / Sq Mi
$68,940
Median Household Income
$38,914
Median Earnings
$1,801
Median Rent
$673,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing multifamily property with updated interiors, on-site laundry, dedicated parking, and garage spaces.
Where is this apartment building located?
The property is located at 1203 Ximeno Long Beach, CA.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 7‑unit apartment building with an all 2‑bedroom, 1‑bath unit mix; All seven units extensively renovated; Six units include interior laundry; shared laundry room also on site
