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$ 3,995,000
Est. payment /mo
New
5529 Dairy AVE Long Beach, CA 90805
15 Beds
10 Baths
5,765 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,765 sqft
Price per Sqft $692
MLS Listing ID 25594549
Bedrooms 15
HOA Y/N No
Year Built 1964
Lot Size 5,431 Sqft
Property Description
Once in a lifetime 100% Renovated 10-unit Master-leased opportunity and cash flowing at an impressive 5.75% Cap Rate from Day 1! The offering provides investors with a turnkey opportunity to purchase a premium asset where every single unit was vacated, completely renovated and leased at market rent. The building was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, HVAC, water heaters, and windows. Other upgrades include new cabinets, modern countertops, new flooring, recessed lighting, updated bathrooms with new vanities and sleek bathtubs, and stainless-steel appliances. The offering brings a diverse unit mix consisting of 5 (1bed/1bath) units and 5 (2bed/1bath) units including 3 brand-new ADUs. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Located in prime North Long Beach just minutes from the beach, offering investors the opportunity to acquire a low-maintenance asset in a coastal rental market without premium coastal pricing! Majority of the units are master-leased by a single organization providing guaranteed cash flow and minimal vacancies. (Similar to a hassle-free NNN deal with stable income and more limited landlord responsibilities with ease of management and rent collection)
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR1N
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features On Street
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7126025019
Special Listing Condition Standard
Listed by Armin Soleimani Global Platinum Properties, Inc.
