Six-Unit Apartment
For Sale
$1,725,000
40 Ximeno Ave, Long Beach, CA 90803
Belmont Shore apartment property with updated interiors, laundry facilities, covered parking, and storage.
Property Size3,890 SF
Days on Market116
Property Features for 40 Ximeno Ave
General Information
Standard status
Active
Size
3,890 SF
Property subtype
Multifamily
Amenities
Prime Belmont Shore Location Five Parcels From the Beach: This six-unit building boasts an outstanding location in one of Long Beach's most desirable coastal neighborhoods.
Exceptional Value-Add Potential: Current rents are approximately 50 percent below market in a high-demand beachside submarket with strong rental fundamentals.
Well-Maintained Asset With Diverse Unit Mix: Property features a mix of one studio, four one-beds, and a two-bed unit with a den, on-site laundry, and improvements that include a newer roof and select
Excellent Proximity to Recreation, Amenities, and Employers Drive Rental Demand: Steps from the beach, Belmont Pier, Belmont Plaza Pool, Second Street's dining and retail, and conveniently near freeways and Cal State Long Beach
Building Details
Building Size
3,890 SF
Units
6
Listed By:
Mitchel Cannata · License #License(s): CA: 02061295, CA: 02061295
(424) 405-3830
Source:
Marcusmillichap
Added: Jun 22
Changed: Oct 10
Last Checked: Oct 14 at 7:41PM
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 Mitchel Cannata
Investment Insights
Based on property information with market context.
Located at 40 Ximeno Avenue, this six-unit apartment building includes one studio with a large walk-in closet, four one-bedroom, one-bath units, and one two-bedroom, one-bath unit with a den. Five apartments have new vinyl plank flooring, while four include new showers. Property improvements also include a newer roof, laundry facilities, one covered parking space, and a storage space.
The building is five parcels from Ocean Avenue and the beach, with Belmont Plaza Pool, Belmont Pier, and the Second Street dining, retail, and entertainment corridor nearby. Cal State Long Beach, area employers, and freeway access are also identified as sources of rental demand. The property is located in the Belmont Shore area of Long Beach.
The building is five parcels from Ocean Avenue and the beach, with Belmont Plaza Pool, Belmont Pier, and the Second Street dining, retail, and entertainment corridor nearby. Cal State Long Beach, area employers, and freeway access are also identified as sources of rental demand. The property is located in the Belmont Shore area of Long Beach.
Key Highlights
- Six‑unit apartment building with a studio, four one‑bedroom units, and one two‑bedroom unit with den
- Five parcels from Ocean Avenue and the beach
- Five units feature new vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,390
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,487,800
$1.5M
Cap Rate 7%
$1,062,714
$1.1M
Cap Rate 9%
$826,556
$826.6K
Market Conditions
NOI Build-Up for 3,890 SF
Gross rent
$142.4K $36.60/SF
− Vacancy
−$7.1K −$1.83/SF
EGI
$135.3K $34.77/SF
− OpEx
−$60.9K −$15.65/SF
NOI
$74.4K $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 Rate 5%
$1,487,800
Cap Rate 7%
$1,062,714
Cap Rate 9%
$826,556
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$929.9K – $1.24M
NOI $74,390 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,788 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
Explore this area
Business Placement
Demographics for 90803, CA
32,192
Population
18,516
Households
1.7
Avg Household Size
46
Median Age
61%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
7,852
Density / Sq Mi
$111,500
Median Household Income
$73,944
Median Earnings
$2,073
Median Rent
$1,138,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Belmont Shore apartment property with updated interiors, laundry facilities, covered parking, and storage.
Where is this apartment building located?
The property is located at 40 Ximeno Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Six‑unit apartment building with a studio, four one‑bedroom units, and one two‑bedroom unit with den; Five parcels from Ocean Avenue and the beach; Five units feature new vinyl plank flooring
