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Multi-Family 16 Unit Apartment Complex 927 Daisy Ave

16 Unit Apartment Building $4,100,000 ($256,250/Unit) 3.74% Cap Rate Long Beach, CA 90813

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Executive Summary

6-unit apartment community located near the East Village Arts District and Downtown Long Beach where you will enjoy the variety of local parks, restaurants, cafes, and so much more. Each of the (16) units consists of 2 bedrooms and 1 bathroom. (6) of the units have been fully remodeled with updated flooring, modern kitchens, which include stainless steel appliances, updated bathrooms, and modern fixtures throughout. (2) additional units have been partially updated. Seller installed brand new railings, as well as a new roof has been installed. All units are metered separately, and double-pane windows have been installed to increase energy efficiency. There is a controlled-access gate for extra privacy and security for all tenants. A community laundry room is offered on the property and can acquire extra income. Additional income potential to convert the (8) garage spaces into (4) ADUs, seller has architectural plans and permitting in process. The pro-forma CAP rate based off of full occupancy is 5.55%, not including the ADUs.
For more information, execute this NDA https://www.jotform.com/sign/243154957434058/invite/01jce64ywdb1d24c88bea1b685.

Property Facts

Price	$4,100,000	Apartment Style	Low Rise
Price Per Unit	$256,250	Building Class	C
Sale Type	Investment	Lot Size	0.17 AC
Cap Rate	3.74%	Building Size	13,641 SF
No. Units	16	No. Stories	3
Property Type	Multifamily	Year Built	1964
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$4,100,000
Price Per Unit	$256,250
Sale Type	Investment
Cap Rate	3.74%
No. Units	16
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.17 AC
Building Size	13,641 SF
No. Stories	3
Year Built	1964
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.