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5529 Dairy Ave
For Sale $3,695,000 ($640.94 per Sq Ft)
$3,695,000 ($640.94 per Sq Ft)
- 10 Units
- 5,765 Sq Ft
- 5,433 Sq Ft
- Unknown Cap Rate
Description
2nd Price Reduction! Once in a lifetime 100% Renovated 10-unit Master-leased opportunity and cash flowing at an impressive 6.25% Cap Rate from Day 1! The offering provides investors with a turnkey opportunity to purchase a premium asset where every single unit was vacated, completely renovated and leased at market rent. The building was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, HVAC, water heaters, and windows. Other upgrades include new cabinets, modern countertops, new flooring, recessed lighting, updated bathrooms with new vanities and sleek bathtubs, and stainless-steel appliances. The offering brings a diverse unit mix consisting of 5 (1bed/1bath) units and 5 (2bed/1bath) units including 3 brand-new ADUs. The property is separately metered for gas and electrical utilities and each unit has its own individual water heater to further reduce operating costs. Located in prime North Long Beach just minutes from the beach, offering investors the opportunity to acquire a low-maintenance asset in a coastal rental market without premium coastal pricing! Majority of the units are master-leased by a single organization providing guaranteed cash flow and minimal vacancies. (Similar to a hassle-free NNN deal with stable income and more limited landlord responsibilities with ease of management and rent collection).
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $3,695,000 |
| Property Type | Multi-Family |
| Usable Sqft | 5,765 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1964 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7126025019 |
| MLS # | 25625923 |
| Property ID | 322433038 |
| Lot Sqft | 5,433 |
| Zoning | LBR1N |
| Total Units | 10 |
| Days on Market | 57 |
| Original List Price | $3,795,000 |
| Date Updated | January 07, 2026 |
| Date Created | December 04, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $2,350 | $2,350 |
| Unit #2 | 2 | 1.00 | $2,950 | $2,950 |
| Unit #3 | 1 | 1.00 | $2,350 | $2,350 |
| Unit #4 | 1 | 1.00 | $2,350 | $2,350 |
| Unit #5 | 2 | 1.00 | $2,950 | $2,950 |
| Unit #6 | 2 | 1.00 | $2,950 | $2,950 |
| Unit #7 | 2 | 1.00 | $2,950 | $2,950 |
| Unit #8 | 1 | 1.00 | $2,350 | $2,350 |
| Unit #9 | 2 | 1.00 | $2,950 | $2,950 |
| Unit #10 | 1 | 1.00 | $2,350 | $2,350 |
| Gross Income (Yr) | $ 299,074 |
| Operating Expenses | $ 67,954 |
| Net Income (Yr) | $ 231,120 |
| Cap Rate | 6.25% |
Listing Provided By
Armin Soleimani an agent of Global Platinum Properties, Inc.. Lic #01846872
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Robert Crawford
REAL ESTATE AGENT