Updated Oct 28, 2024
2007 Chang Family Trust Acquires 10-Unit Multifamily In Eastside Long Beach For $4.5M
1108 Termino Ave, Long Beach, CA 90804, USA
$4,500,000
$443/SF
Building Size
10,158 SF
Asset Type
MultiFamily
Closing
Nov 30, 2021
About this deal
AI
Located in Eastside Long Beach, the multifamily property at 1108 Termino Ave has been successfully sold. The property spans 10,158 square feet and consists of 10 units. The transaction took place on 12/01/2021, with a sale price of $4,500,000. This equates to a per unit price of $450,000 and a price per square foot of $443.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Units: 10
- Price per Unit: $450,000
- Square Footage: 10,158
- Price per Square Foot: $443
- Address: 1108 Termino Ave
- Market: Eastside Long Beach
The buyer of the property was the 2007 Chang Family Trust, while the seller was DL Investments. The deal was facilitated by Michael Bouras and Pat Swanson from Colliers International Greater Los Angeles, serving as the brokers for both parties involved.
On the Map
$4,500,000
$443/SF
MultiFamily
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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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93