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40 Ximeno Ave 6 Unit Apartment Building $2,686,030 CAD ($447,672 CAD/Unit) 3.79% Cap Rate Long Beach, CA 90803
Investment Highlights
- Prime Belmont Shore Location Five Parcels From the Beach: Outstanding location in one of Long Beach’s most desirable neighborhoods
- Well-Maintained Asset With Diverse Unit Mix: Mix of 1 studio, 4 1-beds, and a 2-bed unit with a den, on-site laundry, and a newer roof
- Exceptional Value-Add Potential: Current rents are 50% below market in a high-demand beachside submarket with strong rental fundamentals
- Excellent Proximity to Recreation, Amenities, and Employers Drive Rental Demand: Steps from the beach, Belmont Pier, Belmont Plaza Pool, Second Street
Executive Summary
Marcus & Millichap is pleased to present to market the 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.
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.
Financial Summary (Actual - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,686,030 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $447,672 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 3.79% | Building Size | 3,890 SF |
| Gross Rent Multiplier | 15.5 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1949 |
| Property Subtype | Apartment | Parking Ratio | 0.26/1,000 SF |
| Zoning | LBR2S - Residential | ||
| Price | $2,686,030 CAD |
| Price Per Unit | $447,672 CAD |
| Sale Type | Investment |
| Cap Rate | 3.79% |
| Gross Rent Multiplier | 15.5 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 3,890 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 0.26/1,000 SF |
| Zoning | LBR2S - Residential |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 1 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Some public transit
40/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 7256-035-009 | Total Assessment | $1,105,875 CAD (2025) |
| Land Assessment | $671,826 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $434,049 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
7256-035-009
Land Assessment
$671,826 CAD (2025)
Improvements Assessment
$434,049 CAD (2025)
Total Assessment
$1,105,875 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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40 Ximeno Ave
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