5529 Dairy Ave · Long Beach, CA 90805

$3,350,000

14 bd · 9.0 ba · 4,872 sqft · MultiFamily public records · 75 Days on market

Built 1964 5,433 sqft lot $688/sqft · 127% above area

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +3.7/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Huge 650k Price Reduction! Once in a lifetime 100% Renovated 10-unit Master-leased opportunity and cash flowing at an impressive 7% 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).

Key facts

• New plumbing
• New hvac
• New water heaters

Tags

• 100% RENOVATED
• NEW ROOF
• NEW ELECTRICAL SYSTEM
• NEW PLUMBING
• NEW HVAC
• NEW WATER HEATERS

What this means for you Summary

Snapshot

• This is a 10 × 15-bed/10.0-bath units multifamily listed at $3.35M.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $138/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.81M (16.2% below list).
• Recommended offer: $2.81M (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 1.9% in Long Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#319 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B+; Watch: health & safety C-, crime F, cost of living F.
• Long Beach Unified (urban): math 34% / reading 50% proficiency, ranked #216 of 517 in CA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Addams Elementary (math 19%, 775 students, 73% FRL); Lindsey Academy (math 16% / reading 28%, grade F, #388 of 498 statewide, top 80%, 725 students, 70% FRL); Jordan High (math 12% / reading 35%, grade F, #935 of 1,170 statewide, top 80%, 2,241 students, 66% FRL).
• Zoned-school proficiency averages 23% at this address vs 42% district-wide (-19 pts) — the specific schools serving this property underperform the Long Beach Unified average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 100 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $28,070/mo this rent would consume 459% of the median local household income ($73k/yr) (locally 4834% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $23k of loan paydown is wiped out by about $100k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($3.15M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y ago; this cycle's ask has dropped $200k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $710k; list at $3.35M implies a 372% gain — meaningful room to come down on a strong offer.

Recommended offer $2,807,000 (16.2% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.77%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (median comp): $1,750,000
• List price: $3,350,000
• Delta: 91.43%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.95% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-485,316
• Equity at exit: $499,496

10-year hold

• IRR: -7.6%
• Equity multiple: 0.54×
• Total profit: $-431,490
• Equity at exit: $289,647

Cash invested: $938,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90805

• Rents YoY: 1.9%
• Active inventory: 100
• Price-to-rent: 99.5×

Monthly cashflow live

• Estimated rent: $28,070 medium
• Mortgage (P&I): −$17,568
• Tax from tax record: −$1,832 /mo · $21,979/yr
• Insurance: −$1,396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,895
• Net cashflow: $1,380

Break-even live

Break-even rent $26,323

Max offer price $3,350,000

Occupancy floor 90%

Sensitivity live

Price	-10% $3,277	-5% $2,328	+0% $1,380	+5% $432	+10% $-516
Rent	-10% $-837	-5% $271	+0% $1,380	+5% $2,489	+10% $3,598
Rate	-1.0pp $3,067	-0.5pp $2,232	base $1,380	+0.5pp $512	+1.0pp $-371

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	15	10	$28,070
Total (10 units)			$28,070

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $837,500
• Closing costs: $100,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $3,350,000 Active 75 DOM
2. 2026-06-18
   days on market $3,350,000 Active 72 DOM
3. 2026-06-17
   days on market $3,350,000 Active 71 DOM
4. 2026-06-16
   days on market $3,350,000 Active 70 DOM
5. 2026-06-15
   days on market $3,350,000 Active 69 DOM
6. 2026-06-13
   days on market $3,350,000 Active 67 DOM
7. 2026-06-13
   days on market $3,350,000 Active 66 DOM
8. 2026-06-09
   days on market $3,350,000 Active 63 DOM
9. 2026-06-08
   days on market $3,350,000 Active 62 DOM
10. 2026-06-07
    days on market $3,350,000 Active 61 DOM
11. 2026-06-04
    days on market $3,350,000 Active 58 DOM
12. 2026-06-03
    days on market $3,350,000 Active 57 DOM
13. 2026-06-02
    days on market $3,350,000 Active 56 DOM
14. 2026-06-01
    days on market $3,350,000 Active 55 DOM
15. 2026-05-31
    days on market $3,350,000 Active 54 DOM
16. 2026-05-12
    price $3,350,000 1408-char remark

    Show marketing remark (1408 chars)

    Huge 650k Price Reduction! Once in a lifetime 100% Renovated 10-unit Master-leased opportunity and cash flowing at an impressive 7% 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).

17. 2026-04-07
    listed $3,550,000 Active 1408-char remark

    Show marketing remark (1408 chars)

    Huge 650k Price Reduction! Once in a lifetime 100% Renovated 10-unit Master-leased opportunity and cash flowing at an impressive 7% 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).

18. 2026-03-05
    price
19. 2026-02-03
    listed Active
20. 2026-01-07
    price
21. 2025-12-04
    listed Active
22. 2025-10-29
    price
23. 2025-09-18
    listed Active
24. 2023-02-13
    listed Active
25. 2023-01-19
    listed Active
26. 2020-10-07
    listed $1,350,000 Active
27. 2020-09-17
    soldstatus $710,000 Closed Sale
28. 2020-09-17
    soldstatus $710,000
29. 2014-09-10
    soldstatus $925,000
30. 2012-07-23
    soldstatus $600,000
31. 2011-11-22
    historical
32. 2011-11-03
    listed $715,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $21,979 · $1,832/mo
• Projected year-2 tax: $25,460 · $2,122/mo
• Expected delta: +$3,481/yr (+$290/mo · 15.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 10 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $336,840
• − Mortgage interest: −$187,652
• − Property taxes: −$21,979
• − Insurance: −$16,750
• − Repairs & maintenance: −$26,947
• − Management: −$26,947
• − Depreciation: −$97,455
• Taxable loss: −$40,890
• Est. tax savings @ 24.0%: +$9,814
• After-tax cash flow: $26,375/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Long Beach Unified
• NCES district ID: 0622500
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $56,092
• Composite: 36.67/100
• National rank: #4607
• State rank: #216 of 517 in CA

Livability — Long Beach

• Score: 67/100
• State rank: #319
• US rank: #10758

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B+ Housing C+ Health & safety C- User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Long Beach, CA
• County: Los Angeles County · 9,444,647 people
• City population: 466,088
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 92,402
• Household income: $73,415
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 4834.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 59% Black 18% Two or more races 16% Asian 11% White 8% Native American 2%
• Hispanic origin (detail): Mexican 48%
• Common ancestry: Lithuanian 1% Slovak 1%
• Foreign-born: 30% · Canada, Vietnam
• Languages at home: 41% English-only · Spanish 49% Other Asian/Pacific 5% Tagalog/Filipino 2%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -817.43%
• Current HPI: 456.7913
• Rent YoY: ▲ 1.95%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+368.5% since first listed

17 events — show timeline

• 2026-05-12 Price Changed $3,350,000 TheMLS
• 2026-04-07 Listed $3,550,000 TheMLS
• 2026-03-05 Price Changed — TheMLS
• 2026-02-03 Listed — TheMLS
• 2026-01-07 Price Changed — TheMLS
• 2025-12-04 Listed — TheMLS
• 2025-10-29 Price Changed — TheMLS
• 2025-09-18 Listed — TheMLS
• 2023-02-13 Listed — TheMLS
• 2023-01-19 Listed — TheMLS
• 2020-10-07 Listed $1,350,000 CRMLS
• 2020-09-17 Sold (Public Records) $710,000 Public Records
• 2020-09-17 Sold (MLS) $710,000 CRMLS
• 2014-09-10 Sold (Public Records) $925,000 Public Records
• 2012-07-23 Sold (Public Records) $600,000 Public Records
• 2011-11-22 Listing Removed — CRMLS
• 2011-11-03 Listed $715,000 CRMLS

Property tax history

+14.3%/yr

Latest (2025): $21,979 · +4.7% YoY. Source: county tax records.