NOT LISTED FOR SALE

54 Ximeno Ave Long Beach, CA 90803

Belmont Shore Neighborhood
1 Bed
2 Baths
3,368 Sq Ft
3,142 Sq Ft Lot

Last Sold December 14, 2023

Last sale price $3,345,000 $993 Per Sq Ft

94 Days on Market

About This Home

As of December 2023

54 Ximeno Avenue is an 8-unit, fully stabilized, turn-key apartment building in prime Belmont Shore, COMPLETELY RENOVATED, just steps to the beach and in close proximity to Naples Island, 2nd Street shopping and dining, and Alamitos Bay. The unit mix includes six (6) studios and two (2) 1 BD / 1 BA, all meticulously renovated with designer fixtures and finishes. A total of over $500,000 in capex was invested into the property. Unit interior renovations include new cabinets, countertops, waterproof flooring, designer bathroom tile and modern light fixtures. In addition to the extensive unit interior renovations, building improvements include new electrical and plumbing system upgrades and complete exterior and landscaping renovations. Units are individually metered with an in-place RUBS program and onsite laundry provides additional income.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 07/21/2023

Keller Williams Realty Downey

Last Buyer's Agent

Eri Nakazawa

RELO REDAC, Inc. License #01773555

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1946

Lot Details

  • 3,142 Sq Ft Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • Apartment

Interior Spaces

  • 3,368 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 2 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 7 / 10
  • Tax Tract Number 3750
  • Assessor Parcel Number 7256035007
  • $1,226 per year additional tax assessments

Community Details

Overview

  • 8 Units
  • Belmont Shore Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $750
  • Fuel Expense $750
  • Gardener Expense $1,200
  • Insurance Expense $4,000
  • Maintenance Expense $4,000
  • Other Expense $1,600
  • Pest Control $900
  • Professional Management Expense $9,225
  • Trash Expense $750
  • Water Sewer Expense $750
  • New Taxes Expense $42,055
  • Operating Expense $66,980
  • Gross Income $204,990
  • Net Operating Income $138,011

Property Details

Home Type

Multi-Family

Year Built

Built in 1946

Lot Details

0

Listing Details

  • CapRate: 4.00
  • Price Per Unit: 431250
  • Professional Management Expense: 9225.00
  • Property Attached: Yes
  • Subdivision Name Other: Belmont Shore (BSD)
  • Water Sewer Expenses: 750.00
  • Zoning: LBR2S
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7256035007
  • Year Built: 1946
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Front
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 993.17

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Pest Control Expense: 900.00
  • Sewer: Public Sewer
  • Trash Expense: 750.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 3142.00
  • Lot Size Acres: 0.0721

Multi Family

  • Electric Expense: 750.00
  • Fuel Expense: 750.00
  • Gross Income: 204990.00
  • Gross Scheduled Income: 211330.00
  • Insurance Expense: 4000.00
  • Lot Size Area: 3142.0000 Square Feet
  • Maintenance Expense: 4000.00
  • Net Operating Income: 138011.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 66980.00
  • Other Expense: 1600.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 66980.00

Tax Info

  • New Taxes Expense: 42055.00
  • Tax Block: 10
  • Tax Census Tract: 5773.00
  • Tax Lot: 7
  • Tax Tract Number: 3750
  • TaxOtherAnnualAssessmentAmount: 1226.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/14/2023 12/14/23 Sold $3,345,000 -3.0% $993 / Sq Ft
07/21/2023 07/21/23 For Sale $3,450,000 -- $1,024 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Robert Stepp

    Seller's Agent in 2023

    Robert Stepp

    Keller Williams Realty Downey

    (310) 463-2916

    1 in this area

    72 Total Sales

    Robert Stepp
    Section Image

  • E

    Buyer's Agent in 2023

    Eri Nakazawa

    RELO REDAC, Inc.

    (310) 228-0866

    1 in this area

    41 Total Sales

    Eri Nakazawa
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23134776

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Long Beach 90803 Belmont Shore

54 Ximeno Ave, Long Beach, CA

This home is located at 54 Ximeno Ave, Long Beach, CA 90803 since 21 July 2023. This property was built in 1946. 54 Ximeno Ave is a home located in Los Angeles County with nearby schools including Lowell Elementary School, Rogers Middle School, and Woodrow Wilson High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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