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7 Units Downtown Long Beach | 5.3% Cap 528 Daisy Ave 7 Unit Apartment Building $2,095,000 ($299,286/Unit) 5.30% Cap Rate Long Beach, CA 90802
Investment Highlights
- In-place cash flow at 5.3% cap rate with significant rental upside (w/o LA RSO)
- Strong downtown location with a walk score of 89
- Most units remodeled, including newly constructed 3 bedroom unit
Executive Summary
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.
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.
Property Facts
| Price | $2,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.30% | Building Size | 3,294 SF |
| Gross Rent Multiplier | 12.9 | Average Occupancy | 86% |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LBPD30 | ||
| Price | $2,095,000 |
| Price Per Unit | $299,286 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,294 SF |
| Average Occupancy | 86% |
| No. Stories | 1 |
| Year Built | 1910 |
| Opportunity Zone |
Yes |
| Zoning | LBPD30 |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 560 |
| Studios | 1 | - | 1 |
| 2+1 | 1 | - | 1 |
| 3+2 | 1 | - | 1 |
1 1
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (87)
Property Taxes
| Parcel Number | 7278-021-034 | Improvements Assessment | $318,362 |
| Land Assessment | $742,845 | Total Assessment | $1,061,207 |
Property Taxes
Parcel Number
7278-021-034
Land Assessment
$742,845
Improvements Assessment
$318,362
Total Assessment
$1,061,207
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7 Units Downtown Long Beach | 5.3% Cap | 528 Daisy Ave
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