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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,350,000

Est. payment - /mo

5,431 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision North Long Beach (Nlb)

MLS Listing ID SB26216803

HOA Y/N No

Year Built 1964

Lot Size 5,431 Sqft

Property Sub-Type Apartment

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

Area 7 - North Long Beach

Interior

Heating Wall Furnace

Fireplaces Type None

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

View None

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7126025019

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by Anthony Walker Buckingham Investments, Inc 310-561-4776, DRE #01908153

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5529 Dairy Long Beach, CA 90805