11
See all 11 photos
$1,459,000
Est. payment /mo
8 Beds
8 Baths
3,440 SqFt
New
740 Daisy AVE Long Beach, CA 90813
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,440 sqft
Price per Sqft $424
MLS Listing ID 26853593
Bedrooms 8
HOA Y/N No
Year Built 1922
Lot Size 7,535 Sqft
Property Description
PRICED TO SELL - EARN AN 11.0% RETURN AGAINST IN PLACE RENTS. 9.6 GRM AND 6.8% 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 7.3% 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.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBPD10
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 3
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7272017005
Special Listing Condition Standard
Listed by Jonathan Swire The Agency #01336277
NEARBY SCHOOL & BUSINESS
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