Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

924 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

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

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Executive Summary

This 16-unit apartment community boasts a desirable unit mix of all 2-bedroom and 1-bathroom units. Featuring a new roof, new exterior railings, improved decks and walkways, select window replacements, and 9 recently renovated unit interiors, this property is ready for a smooth transition to the next owner. Five units were recently remodeled top to bottom with new paint, flooring, light fixtures, brand new kitchens and bathroom finishes. Four additional units have been partially updated.
This property offers additional income potential with architectural plans to convert 8 garage spaces into 4 ADUs in progress - current Owner already passed the pre-planning stage with the City. All existing units are metered separately. 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. At 100% occupancy, this property has a CAP rate of 5.52%, not including the proposed ADUs.
This apartment community is 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.
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.