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5529 Dairy Ave
Long Beach, CA 90805
10 Renovated Master-leased Units - 7% Cap · Multifamily Property For Sale
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10 Units
Investment Highlights
- All 10 units taken down to the studs and remodeled with high end finishes
- Incredible in place cap rate of 7%
- All new major systems including plumbing, electrical, roof, and windows
Executive Summary
Fully renovated 10-unit apartment community offering a turnkey investment opportunity at an attractive 7% cap rate. The property underwent a comprehensive, permitted renovation down to the studs, including a new roof, electrical, plumbing, HVAC, windows, individual water heaters, and modernized interiors throughout. The unit mix consists of (5) 1-bed/1-bath and (5) 2-bed/1-bath units, including three newly constructed ADUs. Separate gas and electric meters and individual water heaters help minimize operating expenses. The majority of the units are master leased to a single organization, providing consistent income, reduced vacancy exposure, and streamlined management. Conveniently located in North Long Beach with access to major employment centers, transportation, and surrounding coastal communities.
Property Facts
| Price Per Unit | $339,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 7% | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 10.87 | Building Size | 5,765 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2023 |
| Property Subtype | Apartment | Cross Streets | 55th Street |
| Zoning | R1N | ||
| Price Per Unit | $339,500 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 10.87 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 5,765 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2023 |
| Cross Streets | 55th Street |
| Zoning | R1N |
Amenities
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $3,311 | - |
| 2+1 | 5 | $5,666 | - |
Property Taxes
| Parcel Number | 7126-025-019 | Improvements Assessment | $1,166,217 |
| Land Assessment | $432,972 | Total Assessment | $1,599,189 |
Property Taxes
Parcel Number
7126-025-019
Land Assessment
$432,972
Improvements Assessment
$1,166,217
Total Assessment
$1,599,189
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