$2,000,000
SOLD FEB 15, 2013
10 Beds
5 Baths
13,641 Sq Ft
7,405 Sq Ft Lot

Recently Sold

$147 Per Sq Ft

5% Below List Price

40 Days on Market

Highlights

  • Traditional Architecture
  • No Heating
  • 3-minute walk to Drake Park

About This Home

As of October 2023

We are pleased to offer a 16-unit apartment complex in Long Beach. The property is located in a well-performing rental area just outside of the downtown district. Built in 1964, the property consists of 13,641 rentable square feet, with a lot size of 7,497 square feet. The unit mix consists of 16 two-bedroom/one-bath units. Residents of the building enjoy easy access to parks, the beach, Pine Avenue, The Pike, and Shoreline Marina. The property is also freeway close via Anaheim Avenue running west to the 710 and 405 freeways and bridges to the Port and South Bay area. With the competitive pricing, combined with the desirability of the location, this offering should warrant the attention and consideration of any investor. 927 Daisy Avenue is part of a portfolio that also includes 1167 Daisy. These properties may be sold separately or together.

Last Agent to Sell the Property

Kevin King

Marcus & Millichap License #01158184 Listed on: 10/26/2012

Last Buyer's Agent

Kevin King

Marcus & Millichap License #01158184 Listed on: 10/26/2012

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Parking

  • 8 Parking Spaces

Home Design

  • 13,641 Sq Ft Home
  • Traditional Architecture
  • Stucco

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 5 Bathrooms

Utilities

  • No Heating

Listing and Financial Details

  • Tax Lot 11
  • Tax Tract Number 5758
  • Assessor Parcel Number 7271021044

Community Details

Overview

  • 16 Units

Building Details

  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $4,112
  • Maintenance Expense $12,266
  • Other Expense $3,200
  • Professional Management Expense $10,240
  • Trash Expense $1,610
  • Water Sewer Expense $7,498
  • New Taxes Expense $26,250
  • Gross Income $17,885
  • Net Operating Income $132,113

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Assessments: No
  • CapRate: 6.29
  • Professional Management Expense: 10240.00
  • View: No
  • Water Sewer Expenses: 7498.00
  • Architectural Style: Traditional
  • Property Type: Residential Income
  • Parcel Number: 7271021044
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Appliances: No
  • Price Per Square Foot: 146.62

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 8.00

Utilities

  • Heating: No
  • Laundry: No
  • Trash Expense: 1610.00

Condo/Co-op/Association

  • Senior Community: No

Multi Family

  • Gross Income: 17885.00
  • Gross Multiplier: 9.78
  • Gross Scheduled Income: 214620.00
  • Insurance Expense: 4112.00
  • Maintenance Expense: 12266.00
  • Net Operating Income: 132113.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 16
  • Operating Expense: 71776.00
  • Other Expense: 3200.00
  • Other Expense Description: Misc

Tax Info

  • New Taxes Expense: 26250.00
  • Tax Lot: 11
  • Tax Tract Number: 5758

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/08/2025 01/08/25 Price Changed $3,900,000 -4.9% $286 / Sq Ft
12/15/2024 12/15/24 For Sale $4,100,000 0.0% $301 / Sq Ft
11/26/2024 11/26/24 Pending -- -- --
11/14/2024 11/14/24 For Sale $4,100,000 0.0% $301 / Sq Ft
09/03/2024 09/03/24 For Rent $2,195 0.0% --
10/24/2023 10/24/23 Sold $3,800,000 -2.6% $279 / Sq Ft
08/18/2023 08/18/23 Pending -- -- --
08/11/2023 08/11/23 For Sale $3,900,000 +17.3% $286 / Sq Ft
05/26/2017 05/26/17 Sold $3,325,000 -3.6% $244 / Sq Ft
05/08/2017 05/08/17 Pending -- -- --
03/22/2017 03/22/17 Price Changed $3,450,000 +1.5% $253 / Sq Ft
02/09/2017 02/09/17 For Sale $3,400,000 +70.0% $249 / Sq Ft
02/15/2013 02/15/13 Sold $2,000,000 -4.8% $147 / Sq Ft
12/05/2012 12/05/12 Pending -- -- --
10/26/2012 10/26/12 For Sale $2,100,000 -- $154 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: P839303

California Regional Multiple Listing Service (CRMLS)