Keenly Partners Acquires 5401 E Anaheim Rd From Private Trust In Long Beach
SOLD
$8,000,000
California
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Keenly Partners Acquires 5401 E Anaheim Rd From Private Trust In Long Beach
5401 E Anaheim Rd, Long Beach, CA...
See Similar DealsSummary
CALIFORNIA
Transaction Type:Sale
The Anaheim Road Apartments, consisting of 22 two-bedroom/two-bathroom units, were sold for $8 million. These apartment units are located at 5401 E. Anaheim Road in Long Beach, California, and the property was built in 1987.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $8,000,000.00
- Buyer: Keenly Partners
- Seller: Private Trust
- Buyer’s Representatives: Michael Toveg-Stepp Commercial, Robert Stepp-Stepp Commercial
- Market: Long Beach
Robert Stepp and Michael Toveg of Stepp Commercial represented both Keenly Partners and the private trust in this transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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