1344 Ximeno, Long Beach, California 90804, Long Beach, 90804 - bed, bath
ACTIVE$1,595,000$2,812/sqft
1344 Ximeno, Long Beach, California 90804
0Bed
0Bath
2,812Sqft
4,524Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Asset: As a Triplex, this property offers multiple rental units, providing a strong potential income stream for investors or an owner-occupant seeking to offset housing costs.
Top Cons:
Advanced Age of Construction: Built in 1923, the property may require significant capital expenditures for updating essential systems (plumbing, electrical, HVAC) and addressing deferred maintenance to meet modern standards.
Compared to the nearby listings
Price:$1.59M vs avg $1.27M (+$327,500)94%
Size:2,812 sqft vs avg 2,182 sqft69%
Price/sqft:$567 vs avg $48656%
More Insights
Built in 1923 (103 years old).
Condition: Despite being built in 1923, this property has undergone an extensive and high-quality renovation. Both the main unit and the secondary unit feature modern kitchens with new cream shaker cabinets, white quartz countertops, marble-look backsplashes, and stainless steel appliances. The bathrooms are also fully updated with contemporary vanities, illuminated mirrors, and stylish tile work in the showers/tubs. New laminate flooring, recessed lighting, modern ceiling fans, mini-split AC units, and tankless water heaters indicate a comprehensive overhaul, making the property virtually new inside and meeting current quality standards.
Year Built
1923
Close
-
List price
$1.59M
Original List price
$1.59M
Price/Sqft
$567
HOA
-
Days on market
-
Sold On
-
MLS number
RS26011398
Home ConditionExcellent
Features
Patio
View-
About this home
M
Marcos Ramirez
Listing Agent
Price History
Date
Event
Price
06/28/23
Sold
$503,000
Condition Rating
Excellent
Despite being built in 1923, this property has undergone an extensive and high-quality renovation. Both the main unit and the secondary unit feature modern kitchens with new cream shaker cabinets, white quartz countertops, marble-look backsplashes, and stainless steel appliances. The bathrooms are also fully updated with contemporary vanities, illuminated mirrors, and stylish tile work in the showers/tubs. New laminate flooring, recessed lighting, modern ceiling fans, mini-split AC units, and tankless water heaters indicate a comprehensive overhaul, making the property virtually new inside and meeting current quality standards.
Pros & Cons
Pros
Income-Generating Asset: As a Triplex, this property offers multiple rental units, providing a strong potential income stream for investors or an owner-occupant seeking to offset housing costs.
Desirable Long Beach Location: Situated in Long Beach, a vibrant coastal city with a robust rental market and consistent property value appreciation, enhancing its long-term investment appeal.
Historic Architectural Character: Built in 1923, the property likely boasts unique architectural details and charm, appealing to tenants and buyers who appreciate classic design and character.
Substantial Total Square Footage: With 2812 sqft across three units, the property offers ample living space, suggesting comfortable unit sizes that can attract quality tenants and command competitive rents.
Investment Opportunity: The property's classification as 'Residential Income' and 'Triplex' inherently positions it as a solid investment opportunity in a competitive real estate market.
Cons
Advanced Age of Construction: Built in 1923, the property may require significant capital expenditures for updating essential systems (plumbing, electrical, HVAC) and addressing deferred maintenance to meet modern standards.
Lack of Specified Modern Upgrades: The property details do not mention recent renovations or modern amenities, suggesting interiors may be outdated, potentially impacting rental appeal and requiring future investment.
Potential for Higher Operating Costs: Older multi-unit properties often incur higher utility expenses due to less efficient insulation and systems, along with increased maintenance demands, which can affect net operating income.