5529 Dairy, Long Beach, CA 90805
5529 Dairy, Long Beach, CA 90805
5529 Dairy, Long Beach, CA 90805
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$3,350,000
Est. payment /mo
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5 Beds
4 Baths
5,433 Sqft Lot
New

5529 Dairy Long Beach, CA 90805

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Patty Doyle

Patty Doyle

+1(619) 886-0321

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID SB26216803

Bedrooms 5

Lot Size 5,433 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

5529 Dairy Ave is a rare opportunity to own a turnkey 10-unit, non-rent-controlled apartment building in North Long Beach that produces strong cash flow from day one. Offered at $3,350,000, the property delivers an approximately 7% cap rate on current scheduled rents. The building was taken down to the framing in 2022 under permit and extensively rebuilt with a new roof, new electrical and plumbing systems, new HVAC, new windows, and an individual water heater for every unit. Interiors feature new cabinetry, flooring, recessed lighting, updated bathrooms, and stainless steel appliances, complemented by drought-tolerant landscaping. The unit mix consists of five 1 bed / 1 bath units and five 2 bed / 1 bath units, including three newly built ADUs. Gas and electricity are separately metered and paid directly by the tenants. Five of the ten units are master leased to a single organization, providing one rent payment each month and reduced property management demands. With every major building system substantially new, near-term capital expenditure requirements are minimal. As a non-LA-City rent-controlled asset, the property also allows significant 8.7% annual rent increases (5% + CPI) for future upside. The property is located roughly five miles from Douglas Park and the Long Beach Airport aerospace corridor, where Anduril, Rocket Lab, Relativity, and other major employers continue to expand, and offers convenient access to the 710, 91, and 405 freeways. A coastal-city rental market without coastal-city pricing.

Location

State CA

County Los Angeles

Zoning Public Rec

Direction Between 55th and E Ellis St

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 7126025019

Acceptable Financing Conventional

Listing Terms Conventional

MLS Router / San Diego MLS
Listed by Anthony Walker, DRE#01908153 Buckingham Investments, Inc 
Co-listed byErik Weiss • Buckingham Investments, Inc

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Patty Doyle

Patty Doyle

Agent License ID: 01507441

+1(619) 886-0321

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5529 Dairy

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