Updated Dec 21, 2023
Stepp Commercial Brokers Robert Stepp & Michael Toveg Facilitate $4.5M Sale Of Multifamily Property In Long Beach
1000 Redondo Avenue, Long Beach, CA, USA
$4,455,000
$465/SF
Building Size
9,580 SF
Asset Type
MultiFamily
Closing
Jun 9, 2020
About this deal
AI
A multifamily property located at 1000 Redondo Avenue in Long Beach has been sold for a price of $4,455,000. The transaction took place on June 9, 2021. The property consists of 20 units, with an average price per unit of $222,750. The total square footage of the property is 9,580, resulting in a price per square foot of $465.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,455,000
- Address: 1000 Redondo Avenue
- Market: Long Beach
- Units: 20
- Price Per Unit (PPU): $222,750
- Square Footage (SF): 9,580
- Price Per Square Foot (PPSF): $465
The sale was facilitated by Robert Stepp and Michael Toveg of Stepp Commercial, who represented the parties involved in the transaction.
Players
Long Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93