Stepp Commercial Brokers $4M Sale Of Multifamily Property In Long Beach

The multifamily property located at 2104 E. Florida in Long Beach’s Fourth Street/Retro Row neighborhood was sold for $4 million in a transaction between two local private investors. Built in 1948, the property consists of 10 one-bedroom units and one studio apartment. Recent capital improvements totaling over $600,000 were made to the community, including upgrades such as new laminate flooring, custom shaker-style cabinets, quartz countertops, and stainless steel appliances.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $4,000,000.00
• Address: 2104 E Florida St, Long Beach, CA
• Market: Long Beach
• Seller's Rep: Robert Stepp(Stepp Commercial), Todd Hawke()
• Buyer: Private Investor

Robert Stepp and Todd Hawke of Stepp Commercial represented the seller in the deal involving the sale of the multifamily property. The transaction was part of a 1031 exchange where a locally based private investor sold the asset to another local private investor. The property not only features modern amenities and finishes but is also located in the vibrant Fourth Street/Retro Row neighborhood of Long Beach.