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Buy a multi-family propertyat 144 Ximeno Avenue, Long Beach, CA 90803

$2,495,000

$2,550,000 (-2.16%)

$0/mo

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Multifamily

2,699 Sq. Ft. lot

0 Bathrooms

306 Days on market

SB23111816 MLS ID

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About 144 Ximeno Avenue multi-family property

An 8-unit, fully-leased multi-family property in Belmont Shore, Long Beach. Located just blocks from the water in this fantastic neighborhood, residents have easy access to Second Street with its unique restaurants and shopping. This is Southern California living at its finest, offering sandy beaches, lagoons, canals and a myriad of outdoor activities. The unit mix includes 7 studios and 1 one bedroom, 1 bathroom unit. The current owner completely renovated 6 of the 8 units, including new dual pane windows, copper plumbing, plank flooring and new fixtures and finishes throughout. The onsite laundry machines are new and owned by the property. There is still upside rent potential, with two units still below market by 40%. This property is subject to State of CA rent control.
An 8-unit, fully-leased multi-family property in Belmont Shore, Long Beach. Located just blocks from the water in this fantastic neighborhood, residents have easy access to Second Street with its unique restaurants and shopping. This is Southern California living at its finest, offering sandy beaches, lagoons, canals and a myriad of outdoor activities. The unit mix includes 7 studios and 1 one bedroom, 1 bathroom unit. The current owner completely renovated 6 of the 8 units, including new dual pane windows, copper plumbing, plank flooring and new fixtures and finishes throughout. The onsite laundry machines are new and owned by the property. There is still upside rent potential, with two units still below market by 40%. This property is subject to State of CA rent control.

Property details

Property Access

Alley

City Street

Alley Paved

Paved

Appliances and Equipment

Gas Cooktop

Gas Oven

Gas Range

Water Heater

House

2 total stories

Built in 1947

3646 total building sqft

Traditional

2+ Common Walls

Drywall

Lap Siding

Stucco

Community

Gutter(s)

Cooling

No cooling

Disclosures

Familial Relation

Principal is Real Estate Licensed

Rent Control

Doors

Panel Doors

Disability Features

Safe Emergency Egress from Home

No Stairs

Expenses

Electric Expense: $297

Insurance Expense: $1,750

Maintenance Expense: $4,695

Operating Expense: $51,846

Other Expense: $1,916

Water Sewer Expense: $1,175

Fence

Average Condition

Fair Condition

Good Condition

Floors

Vinyl

Foundation

Raised

Water

Across the Road from Lake/Ocean

Ocean Access

Heating

Floor Furnace

Wall Furnace

Income

Gross Income: 12657

Gross Scheduled Income: 156516

Net Operating Income: 99974

Interior Features

Multiple Staircases

Quartz Counters

Recessed Lighting

Laundry

Common Area

Electric Dryer Hookup

Gas Dryer Hookup

Laundry Closet

Listing

Listing ID: SB23111816

Property Subtype: Apartment

24 days on market

Listed on 2023-06-24

Rent controlled

Location

County: Los Angeles

Subdivision: Belmont Shore (BSD)

Lot

2699 sqft

0.062 acres

Area: 2699

0-1 Unit/Acre

Energy Saving

Windows

Property

Single building

8 units

Property attached

Peek-A-Boo

Roof

Composition

Shingle

Security System

Carbon Monoxide Detector(s)

Smoke Detector(s)

Sewer

Public Sewer

Sewer Tap Paid

Taxes

New Taxes: $31,875

Tenant Pays

Cable TV

Electricity

Gas

Management

Utilities

Standard

9 separate electric meters

9 separate gas meters

Electricity Connected

Natural Gas Available

Sewer Connected

Windows

Double Pane Windows

Monthly cost

Estimated monthly cost

$15,899/mo

All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

Seller fees & commissions

Home sale price

$

Outstanding mortgage

$

Selling with traditional agent

Selling with Unreal Estate agent

Your total sale proceeds$2,345,300

+$74,850

$2,420,150

Seller agent commission$74,850 (3%)*

$0 (0%)

Buyer agent commission$74,850 (3%)*

$74,850 (3%)*

*Commissions are based on national averages and not intended to represent actual commissions of this property

Get $74,850 more selling your home
with an Unreal Estate agent

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Unreal Estate checked: Aug 8, 2023 at 4:34 p.m.

Data updated: Jul 18, 2023 at 6:05 p.m.

Property listed by TR Wealth Management Inc., William Mulkey
Based on information from California Regional Multiple Listing Service, Inc. as of 07/18/2023 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.
Listing Information © 2024 California Regional MLS. All Rights Reserved.

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