40 Ximeno, Long Beach, California 90803, Long Beach, 90803 - 0 bed, 0 bath
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Long Beach, California 90803
This Belmont Shore apartment building represents a High-Potential Investment Opportunity, listed at a List Price of $1,895,000—positioned well below the $1,974,065 Fair Market Value by 4%. This valuation gap provides $79,065 in Instant Equity. With a Condition Rating of 3, the asset features recent capital improvements like a newer roof and updated interiors. The property offers significant value-add potential through rent stabilization in a high-demand coastal market. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking long-term growth.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 40 Ximeno Subject | $1,895,000* List Price | 0 | 0 | 3,890 | $509 | - |
A 3414 E 1st Sold | $1,850,000 | 0 | 0 | 3,864 | $479 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Although built in 1949, the property has undergone recent significant updates including new vinyl plank flooring in 5 of 6 units, new showers in 4 units, and a newer roof. The interiors appear clean and functional, though some systems like wall heaters remain dated.
Elementary School: Naples Elementary School (10/10).
Situated just five parcels from the sand in Belmont Shore, the property offers residents immediate access to the beach and the popular Second Street dining and retail corridor.
With current rents approximately 50% below market rates, there is a substantial opportunity for investors to increase cash flow and asset value through lease stabilization.
The property offers only one covered parking space for six units, which is a significant drawback in a high-density coastal neighborhood where street parking is notoriously difficult.
Originally constructed in 1949, the building may require ongoing maintenance or upgrades to its core systems typical of mid-century structures, despite recent cosmetic improvements.
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.
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 0.9 mi
Grades 6-8 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 2.0 |
| Baths | 0.0 | 1.0 |
| Square foot | 3,890 | 3,223 |
| Lot Size | 3,148 | 5,410.5 |
| Price | $1.90M | $1.78M |
| Price per sq ft | $487 | $377 |
| Built year | 1949 | 1923 |
| HOA | $0 | $0 |
| Days on market | 34 | 108 |
Jun 20, 2026
$1,895,000
Initial Listing
Jun 18, 2026
$18,950,000
Initial Listing