$3,800,000
SOLD OCT 24, 2023
2 Beds
1 Bath
13,641 Sq Ft
7,559 Sq Ft Lot

Recently Sold

$279 Per Sq Ft

3% Below List Price

7 Days on Market

Highlights

  • 0.17 Acre Lot
  • Laundry Room
  • 3-minute walk to Drake Park

About This Home

As of October 2023

927 Daisy Avenue is a 16-unit apartment property in Long Beach, California, adjacent to the vibrant East Village Arts District and Downtown. The controlled-access, all-electric, separately-metered building features sixteen (16) 2BD / 1 BA units. Two (2) of the units are fully remodeled with new flooring, kitchens, stainless steel appliances, new bathrooms and modern fixtures and finishes. Double-pane windows are installed throughout the building for additional energy efficiency. An onsite laundry / storage room provides extra income, and the eight (8) garages offer the opportunity for ADU conversion for additional income. 927 Daisy Avenue is priced at 11.23 GRM and 5.54% cap rate at current rents.

Last Agent to Sell the Property

Robert Stepp

Keller Williams Realty Downey License #01456379 Listed on: 08/11/2023

Keller Williams Realty Downey

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,559 Sq Ft Lot
  • Two or More Common Walls
  • Density is 16-20 Units/Acre

Parking

  • 8 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 13,641 Sq Ft Home
  • 3-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Listing and Financial Details

  • Legal Lot and Block 11 / I
  • Tax Tract Number 5758
  • Assessor Parcel Number 7271021044
  • $2,945 per year additional tax assessments

Community Details

Overview

  • 16 Units
  • Willmore District Subdivision

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 16 Separate Electric Meters
  • 1 Separate Water Meter
  • Electric Expense $2,507
  • Gardener Expense $1,200
  • Insurance Expense $12,000
  • Maintenance Expense $11,200
  • Other Expense $4,800
  • Pest Control $1,000
  • Professional Management Expense $24,043
  • Trash Expense $9,789
  • Water Sewer Expense $3,590
  • New Taxes Expense $49,010
  • Operating Expense $120,639
  • Gross Income $336,862
  • Net Operating Income $216,223

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

8

Listing Details

  • CapRate: 5.54
  • Price Per Unit: 243750
  • Professional Management Expense: 24043.00
  • Property Attached: Yes
  • Subdivision Name Other: Willmore District (WM)
  • Water Sewer Expenses: 3590.00
  • Zoning: LBPD10
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 7271021044
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Stories: 3
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 278.57

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Pest Control Expense: 1000.00
  • Sewer: Public Sewer
  • Trash Expense: 9789.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 7559.00
  • Lot Size Acres: 0.1735

Multi Family

  • Electric Expense: 2507.00
  • Gross Income: 336862.00
  • Gross Multiplier: 11.23
  • Gross Scheduled Income: 347280.00
  • Insurance Expense: 12000.00
  • Lot Size Area: 7559.0000 Square Feet
  • Maintenance Expense: 11200.00
  • Net Operating Income: 216223.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 16
  • Operating Expense: 120639.00
  • Other Expense: 4800.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 120639.00

Tax Info

  • New Taxes Expense: 49010.00
  • Tax Block: I
  • Tax Census Tract: 5758.01
  • Tax Lot: 11
  • Tax Tract Number: 5758
  • TaxOtherAnnualAssessmentAmount: 2945.00

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: PW23149080

California Regional Multiple Listing Service (CRMLS)