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5678 Cherry Avenue

Heidi Winkler Purchases Mixed-Use Asset In Long Beach For $1.2M With Lary Carlton Representing Buyer
SOLDMixed-use

Heidi Winkler Purchases Mixed-Use Asset In Long Beach For $1.2M With Lary Carlton Representing Buyer

5678 Cherry Avenue & 5708 Cherry Avenue

$1,200,000

$98/SF

Building Size

12,142 SF

Asset Type

Mixed-use

Closing

Jan 29, 2025

AI

This mixed-use property, located at 5678 & 5708 Cherry Avenue in Long Beach, has been sold for $1,200,000. The asset encompasses a total square footage of 6,071, resulting in a price per square foot of $197.

Summary of transaction details:

The transaction has involved the collaboration of brokers from both sides. Lary Carlton represented the buyer, while Ryan Sharpe and Rod Roberts acted as representatives for the seller in this closed transaction.

Players

Ryan Sharpe

Kidder Mathews

Broker

$82.5M

vol

20 deals

Broker

Long Beach Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.22%

Cash-on-Cash

-3.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93