SOLD
Stepp Commercial Sells Condo Portfolio In Long Beach For $3.8M
601 Linden Avenue
$3,825,000
$472/SF
Building Size
8,103 SF
Asset Type
—
Closing
Sep 8, 2022
AI
A condo located at 601 Linden Avenue in Long Beach recently sold for $3,825,000. The property consists of 12 units with an average price per unit (PPU) of $318,750. The total square footage of the condo is 8,103, resulting in a price per square foot (PPSF) of $472.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $3,825,000
- Address: 601 Linden Avenue
- Market: Long Beach
- Units: 12
- PPU: $318,750
- Square Footage: 8,103
- PPSF: $472
The transaction was facilitated by Robert Stepp, John Alden, and Michael Toveg from Stepp Commercial.
Players
Long Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.15%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93