Updated Oct 29, 2024
Keenly Partners Acquires 5401 E Anaheim Rd From Private Trust In Long Beach
5401 E Anaheim Rd, Long Beach, CA...
$8,000,000
Building Size
—
Asset Type
—
Closing
Nov 22, 2023
About this deal
AI
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
Long Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93