Updated Oct 13, 2026
MG Properties Group Acquires Mixed-Use Property In Long Beach For $48.9M
595 Pine Avenue, Long Beach, CA 90802, USA
$48,900,000
$5,433/SF
Building Size
9,000 SF
Asset Type
Mixed-use
Closing
Apr 14, 2019
About this deal
AI
The mixed-use property located at 595 Pine Ave in Long Beach has been sold in a closed transaction. The sale took place on April 15, 2019, with a purchase price of $48,900,000. The property spans across 9,000 square feet, resulting in a price per square foot of $5,433. It consists of 158 units, with a per-unit price of $309,493.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $48,900,000
- Square Footage: 9,000
- Price per Square Foot: $5,433
- Number of Units: 158
- Price per Unit: $309,493
MG Properties Group acted as the buyer in this transaction, while Sares-Regis Group was the seller. The deal was facilitated by brokers Sean Deasy and Blake Rogers from HFF.
On the Map
$48,900,000
$5,433/SF
Mixed-use
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Players
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93