740 Daisy Avenue,Long Beach, CA 90813
Long Beach, CA 90813
Description
PRICED TO SELL - EARN OVER A 10% RETURN AGAINST IN PLACE RENTS. 9.5 GRM AND 7.0% CAP AGAINST IN PLACE RENTS. 8 Units on the Westside of Long Beach close to Downtown, subject to AB 1482 rent control - maximum annual increase of 5% + CPI (currently 8.7% total). 1 story, bungalow style units with a total of 5 structures on the lot. The property is professionally managed and features an excellent unit mix of studio, 1 and 2 bed units. The property has upside to a 9.1 GRM and 7.5% CAP. The property has parking for 3 cars in the rear of the building. All units have separate water heaters and the electrical subpanels were recently upgraded. The main electrical panel is a 200 AMP Siemens panel (Buyer to verify). All interiors are well maintained and feature laminate flooring, tile in the baths and updated kitchens. The property features a Walkscore of 86 and is a just a few minutes walk from Downtown and the Metro station. There has been over $8BB in redevelopment in Long Beach in the past 10 years including a ton of new class A apartments and restaurants. The property is also conveniently located close to the 710 Freeway providing access to employment throughout LA and Orange County. Excellent financing is available for qualified Buyers at 5.4% fixed for 5 years, with 25% down. Anduril Industries, a cutting-edge defense technology company specializing in AI applications announced that it is commencing a $1 billion redevelopment of land adjacent to the LB Airport. The project is planned to be completed in mid-2027 and is expected to create 5,500 new direct jobs at the site plus thousands of indirect construction and supply-chain service jobs. The Long Beach Airport is also undergoing a $37MM remodel in preparation for the 2028 Olympic Games.
Details
| MLS # | 26853593 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 57 |
| Listing Provided By | The Agency | Jonathan Swire |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 8 |
| SQ Feet | 3,440 |
| Story(s) | 1 |
| Units | 8 |
| Building(s) | 5 |
| Zoning | LBPD10 |
| Acreage | 0.17 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Parking
| Parking Features | Assigned |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Listing VS Median (in 90813) | |
Price: $1,445,000 low | high Med: $875,000 sqft: 3,440 low | high Med: 1,505 $ / sqft: $420 low | high Med: $598 On site: 57 low | high Med: 79.5 | |
Market Activity 90813
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Long Beach |
| Zip Code | 90813 |
| Area | 4 Downtown Area | Alamitos Beach |
| Listing VS Median (in 90813) | |
Price: $1,445,000 low | high Med: $875,000 sqft: 3,440 low | high Med: 1,505 $ / sqft: $420 low | high Med: $598 On site: 57 low | high Med: 79.5 | |
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