Price Reduced Listing
1208 Daisy Avenue,Long Beach, CA 90813
Long Beach, CA 90813
Description
PRICED TO SELL - 9.4 GRM AND 6.8% CAP. EARN OVER A 10% CASH ON CASH RETURN against in place rents. 12 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 building completely remodeled down to the studs. New electrical, plumbing, kitchens, baths, lighting, etc. - Buyer to verify. Seller spent over $600K on the remodel. The property is professionally managed and features an excellent unit mix of studio and 1 bed units. There is no onsite parking but plenty of street parking. The property features a Walkscore of 85 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. 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. Excellent lender financing is available for qualified Buyers at 5.4% fixed for 5 years, with 25% down.
Details
| MLS # | 26859339 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 42 |
| Listing Provided By | The Agency | Jonathan Swire |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 12 |
| SQ Feet | 5,036 |
| Story(s) | 1 |
| Units | 12 |
| Building(s) | 1 |
| Zoning | LBPD10 |
| Acreage | 0.17 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
Parking
| Parking Features | None |
|---|
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: $2,015,000 low | high Med: $756,000 sqft: 5,036 low | high Med: 1,543 $ / sqft: $400 low | high Med: $490 On site: 42 low | high Med: 50 | |
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: $2,015,000 low | high Med: $756,000 sqft: 5,036 low | high Med: 1,543 $ / sqft: $400 low | high Med: $490 On site: 42 low | high Med: 50 | |
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