927 Daisy Avenue

Description

16-unit apartment community located near the East Village Arts District and Downtown Long Beach where you will enjoy the variety of local parks, restaurants, cafes, and so much more. Each of the (16) units consists of 2 bedrooms and 1 bathroom. (6) of the units have been fully remodeled with updated flooring, modern kitchens, which include stainless steel appliances, updated bathrooms, and modern fixtures throughout. (2) additional units have been partially updated. Seller installed brand new railings, as well as a new roof has been installed. All units are metered separately, and double-pane windows have been installed to increase energy efficiency. There is a controlled-access gate for extra privacy and security for all tenants. A community laundry room is offered on the property and can acquire extra income. Additional income potential to convert the (8) garage spaces into (4) ADUs, seller has architectural plans and permitting in process. The pro-forma CAP rate based off of full occupancy is 5.55%, not including the ADUs.

Listing information courtesy of: Jeff Kim, eXp Realty of California, Inc. 619-948-3112. *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.