Updated 8-Unit Apartment
For Sale
$1,299,000
322 Daisy Ave, Long Beach, CA 90802
Downtown property with renovated interiors, newer windows, and a 2025 roof.
Property Size3,520 SF
Days on Market84
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
(424) 230-3700
Listed By:
Jonathan Swire · License #01336277
(424) 230-3700
Source:
Nolanrossre.kw
Added: Jun 8
Changed: Aug 29
Last Checked: Aug 29 at 11:20AM
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,315
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,922 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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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 $1,299,000.
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
