Updated 8-Unit Apartment
For Sale
$1,239,000
322 Daisy Ave, Long Beach, CA 90802
Downtown property with renovated interiors, newer windows, and a 2025 roof.
Property Size3,520 SF
Days on Market130
Property Features for 322 Daisy Ave
General Information
Standard status
Active
Size
3,520 SF
Property subtype
Multi-Family
Financials
Cap Rate
6.3%
Gross Rent Multiplier
9.7
Additional Details
Public Transit
Yes
Multifamily Units
8
Amenities
laundry
storage rooms
Building Details
Building Size
3,520 SF
Year Built
1923
Stories
2
Listing Agency:
The Agency
Listed By:
Jonathan Swire · License #01336277
(424) 230-3700
Source:
Nolanrossre.kw
Added: Jun 8
Changed: Oct 13
Last Checked: Oct 14 at 7:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Agency
Investment Insights
Based on property information with market context.
This 8-unit apartment building, constructed in 1923, has received updates to unit interiors and hallways within the past 5 years, including paint, fixtures, and flooring. The property also has newer vinyl windows and a roof installed in 2025. Reported building systems include a 200-amp main electrical panel, 30-amp subpanels, and copper plumbing, subject to buyer verification.
The property is in Downtown Long Beach near the new library, mass transportation, shopping, restaurants, and substantial nearby construction. It has a Walk Score of 90 and is professionally managed. Eight private storage rooms are located in the basement alongside the laundry area. The property is subject to AB 1482 rent control, with a stated maximum annual increase of 5% + CPI, currently 8.7% total. Current financial metrics include a 9.7 GRM and a 6.3% cap rate.
The property is in Downtown Long Beach near the new library, mass transportation, shopping, restaurants, and substantial nearby construction. It has a Walk Score of 90 and is professionally managed. Eight private storage rooms are located in the basement alongside the laundry area. The property is subject to AB 1482 rent control, with a stated maximum annual increase of 5% + CPI, currently 8.7% total. Current financial metrics include a 9.7 GRM and a 6.3% cap rate.
Key Highlights
- 8‑unit apartment building constructed in 1923
- New roof installed in 2025
- Unit interiors and hallways updated within the past 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,315
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,346,300
$1.3M
Cap Rate 7%
$961,643
$961.6K
Cap Rate 9%
$747,944
$747.9K
Market Conditions
NOI Build-Up for 3,520 SF
Gross rent
$128.8K $36.60/SF
− Vacancy
−$6.4K −$1.83/SF
EGI
$122.4K $34.77/SF
− OpEx
−$55.1K −$15.65/SF
NOI
$67.3K $19.12/SF
Area
Long Beach, CA
Vacancy
5.00%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,346,300
Cap Rate 7%
$961,643
Cap Rate 9%
$747,944
Alternative Uses
Best Use
Apartment 5plus
$961.6K
$841.4K – $1.12M
NOI $67,315 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,922 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
4,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 90802, CA
41,686
Population
25,055
Households
1.7
Avg Household Size
37
Median Age
44%
College-Educated
88%
High-School Grad
6.5 sq mi
ZIP Area
6,413
Density / Sq Mi
$72,152
Median Household Income
$52,011
Median Earnings
$1,855
Median Rent
$546,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Downtown property with renovated interiors, newer windows, and a 2025 roof.
Where is this apartment building located?
The property is located at 322 Daisy Ave Long Beach, CA.
What is the asking price?
The asking price for this property is $1,239,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in 1923; New roof installed in 2025; Unit interiors and hallways updated within the past 5 years
