528 Daisy Ave - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$2,095,000 USD
310-666-2246
528 Daisy Ave, Long Beach, CA for Sale
$2,095,000 USD
Apartments - FOR SALE
1/41
null | 5.3% Cap Rate

528 Daisy Ave
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • In-place cash flow at 5.3% cap rate with significant rental upside (w/o LA RSO)
  • Most units remodeled, including newly constructed 3 bedroom unit
  • Strong downtown location with a walk score of 89

OVERVIEW

Welcome to 528 Daisy Avenue, a well-maintained and highly desirable 7-unit multifamily property located in the heart of Downtown Long Beach. With a Walk Score of 89, the property benefits from exceptional tenant demand driven by proximity to downtown amenities, the Civic Center, dining, retail, and major transit corridors. The asset features a strong and highly rentable unit mix consisting primarily of spacious 1-bedroom units, complemented by 2-bedroom units, a studio, and a newly added 3-bedroom unit, bringing the total to seven units and enhancing both income and long-term appeal. Several units have been tastefully updated, offering investors a low-maintenance, turnkey asset with minimal near-term capital requirements. Offered at an attractive 5.3% cap rate and 12.9 GRM, 528 Daisy provides in-place cash flow with additional upside through continued rent optimization and lease-up of select units. Importantly for Los Angeles-based investors, the property is located outside the City of Los Angeles and is not subject to LA’s Rent Stabilization Ordinance (RSO), allowing for significantly greater flexibility on rental growth and operations compared to similar assets within LA City. This is a rare opportunity to acquire a stabilized, income-producing asset in one of Long Beach’s most walkable and high-demand rental submarkets.

FOR SALE DETAILS

PRICE

$2,095,000 USD

PRICE/SF

$636 USD /SF

# OF UNITS

7

PRICE/UNIT

$299,286

CAP RATE

5.3%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Units Downtown Long Beach | 5.3% Cap

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,471 SF

ZONING

LBPD30

APN/PARCEL ID

7278-021-034

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.