Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

922 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

100% Gut-Renovated 5.25% Cap Rate Day 1 121 Ximeno Ave

9 Unit Apartment Building $4,100,000 ($455,556/Unit) 5.25% Cap Rate Long Beach, CA 90803

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Prime location in Belmont Shore, just steps away from the ocean and beach
Ideal investment property with a current cap rate of 5.25%!
Low maintenance property with all new plumbing, electrical, and HVAC systems installed during renovation

Fully renovated with permits, ensuring high-quality and safe living spaces for tenants
Each unit has been gut-renovated with modern finishes and fixtures for a high-end aesthetic
Perfect for an investor looking for a turnkey property with minimal effort needed for upkeep

Executive Summary

Price Reduction! 100% Gut-Renovated 9-unit building in Belmont Shore cash flowing at an amazing Current Cap Rate of 5.25% and 13.6 GRM. All units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, recessed lighting, new bathrooms, new Mini Split AC systems, stainless steel appliances, washer/dryer inside, as well as major exterior capital improvements. The unit mix provides unparalleled versatility, including 2 spacious (2bed/1bath) units ideal for families, as well as 5 modern (1bed/1bath) units, and 2 (studio/1bath) units perfect for individuals seeking comfort and style. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency (4 vacant). On top of that, the major systems have been updated including electrical, plumbing, HVAC, etc. The property is located in the heart of Belmont Shore within walking distance of the Pacific Ocean and the Beach. Located just steps away from all the neighborhood attractions, restaurants, bars, and shops on 2nd St such as Sait & Second, Nick's on 2nd, The Win~Dow, Simmzy's, Roe Seafood, Breakfast Republic, Sweet Jill's Bakery, Galata Ice Cream, and many more popping up all around the area.

Offering Memorandum

Property Facts

Price	$4,100,000	Apartment Style	Low Rise
Price Per Unit	$455,556	Building Class	C
Sale Type	Investment	Lot Size	0.07 AC
Cap Rate	5.25%	Building Size	4,272 SF
Gross Rent Multiplier	13.64	Average Occupancy	56%
No. Units	9	No. Stories	2
Property Type	Multifamily	Year Built	1954
Property Subtype	Apartment Multifamily Dormitory

Price	$4,100,000
Price Per Unit	$455,556
Sale Type	Investment
Cap Rate	5.25%
Gross Rent Multiplier	13.64
No. Units	9
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.07 AC
Building Size	4,272 SF
Average Occupancy	56%
No. Stories	2
Year Built	1954