5529 Dairy Long Beach, CA 90805
UPDATED:
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
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
NEARBY SCHOOL & BUSINESS
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