733 Daisy Ave
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733 Daisy Ave
12 Unit Apartment Building $4,839,016 CAD ($403,251 CAD/Unit) 5.87% Cap Rate Long Beach, CA 90813
Investment Highlights
- 8 OUT OF 12 UNITS FULLY RENOVATED
- 2 BRAND NEW ADU’S
- VERY CLEAN PROPERTY
- GREAT LOCATION
- OLD GAS HEATERS REPLACED WITH NEW SPLIT UNITS
Executive Summary
KARA Commercial is pleased to present the opportunity to acquire 733 daisy Ave, 12-unit multifamily investment property located in Long Beach, one of the premier housing markets in Southern California.
Extensively renovated property including exterior refresh, new windows, main electrical panel, controlled access, low-water landscaping, common areas, and lighting
All of the renovations were done up to code and permits were obtained by a California State Licensed Contractor.
Property has gone through all major elements like
UPGRADED MAIN PANEL, SUB PANELS AND WIRING, UPGRADED MAIN WATER LINE, RENEWED PLUMBING UP TO CODE, NEWER ROOF,
NEW KITCHEN CABINETS, COUNTERTOPS, STAINLESS STEEL APPLIANCES, UPDATED BATHROOMS, WASHER DRYER IN UNITS
DISHWASHER/OVEN/FRIDGE,MICROWAVE (WHIRLPOOL OR SAMSUNG)
IF YOU ARE LOOKING TO FINANCE , WE HAVE ATTACHED 3 LOAN OPTIONS FOR POSSIBLE CONSIDERATION.
733 Daisy Ave is located in the highly sought- after Downtown Long Beach neighborhood and is just steps away from Junipero Beach and Alamitos Beach, two of the city’s most popular beaches. The property is also close distance to Retro Row, which offers numerous shopping, dining, and entertainment options.
733 Daisy Ave is under a mile away from The Promenade and the Pike Outlets, providing residents with easy access to a plethora of shopping and dining destinations.
High yield, low expense property at an in-place cap rate of 5.87% and a GRM of 11.74 with an additional upside to a market cap rate of 6.52% and a 10.83 GRM
Given the overall strength of the apartment market in Long Beach, especially Downtown Area 733 Daisy Ave offers an investor the ability to capture quality tenants seeking an exceptional living experience within a vibrant neighborhood. The areas surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and intensively renovated apartment building will be a key driver in the continued growth and success at 733 Daisy Ave.
Please do not disturb tenants if driving by.
Extensively renovated property including exterior refresh, new windows, main electrical panel, controlled access, low-water landscaping, common areas, and lighting
All of the renovations were done up to code and permits were obtained by a California State Licensed Contractor.
Property has gone through all major elements like
UPGRADED MAIN PANEL, SUB PANELS AND WIRING, UPGRADED MAIN WATER LINE, RENEWED PLUMBING UP TO CODE, NEWER ROOF,
NEW KITCHEN CABINETS, COUNTERTOPS, STAINLESS STEEL APPLIANCES, UPDATED BATHROOMS, WASHER DRYER IN UNITS
DISHWASHER/OVEN/FRIDGE,MICROWAVE (WHIRLPOOL OR SAMSUNG)
IF YOU ARE LOOKING TO FINANCE , WE HAVE ATTACHED 3 LOAN OPTIONS FOR POSSIBLE CONSIDERATION.
733 Daisy Ave is located in the highly sought- after Downtown Long Beach neighborhood and is just steps away from Junipero Beach and Alamitos Beach, two of the city’s most popular beaches. The property is also close distance to Retro Row, which offers numerous shopping, dining, and entertainment options.
733 Daisy Ave is under a mile away from The Promenade and the Pike Outlets, providing residents with easy access to a plethora of shopping and dining destinations.
High yield, low expense property at an in-place cap rate of 5.87% and a GRM of 11.74 with an additional upside to a market cap rate of 6.52% and a 10.83 GRM
Given the overall strength of the apartment market in Long Beach, especially Downtown Area 733 Daisy Ave offers an investor the ability to capture quality tenants seeking an exceptional living experience within a vibrant neighborhood. The areas surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation, and retail amenities. This overall demand for a well-located and intensively renovated apartment building will be a key driver in the continued growth and success at 733 Daisy Ave.
Please do not disturb tenants if driving by.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$411,963
|
$86.56
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$411,963
|
$86.56
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $411,963 |
| Annual Per SF | $86.56 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $411,963 |
| Annual Per SF | $86.56 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $4,839,016 CAD | Apartment Style | Low Rise |
| Price Per Unit | $403,251 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.87% | Building Size | 4,759 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 96% |
| Gross Rent Multiplier | 11.74 | No. Stories | 1 |
| No. Units | 12 | Year Built/Renovated | 1939/2022 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $4,839,016 CAD |
| Price Per Unit | $403,251 CAD |
| Sale Type | Investment |
| Cap Rate | 5.87% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 11.74 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,759 SF |
| Average Occupancy | 96% |
| No. Stories | 1 |
| Year Built/Renovated | 1939/2022 |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Freezer
Site Amenities
- Controlled Access
- Courtyard
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $2,494 CAD | 390 |
| 1+1 | 9 | $2,979 CAD | 450 |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 7271-023-033 | Improvements Assessment | $1,098,023 CAD (2024) |
| Land Assessment | $1,844,391 CAD (2024) | Total Assessment | $2,942,413 CAD (2024) |
PROPERTY TAXES
Parcel Number
7271-023-033
Land Assessment
$1,844,391 CAD (2024)
Improvements Assessment
$1,098,023 CAD (2024)
Total Assessment
$2,942,413 CAD (2024)
zoning
| Zoning Code | PD10 |
| PD10 |
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733 Daisy Ave
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