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2007 Chang Family Trust Acquires 10-Unit Multifamily In Eastside Long Beach For $4.5M

Property Image
SOLD
$4,500,000

California

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MultiFamily10,158 SF
Sold 12/01/2021
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Property Image
SOLD

2007 Chang Family Trust Acquires 10-Unit Multifamily In Eastside Long Beach For $4.5M

1108 Termino Ave, Long Beach, CA 90804, USA

See Similar Deals
MultiFamily10,158 SF
Sold 12/01/2021
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$443
Total Square Footage:10,158 SF
Transaction Type:Sale

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.

Players

Michael Bouras
1 deal$4.5M volume(714) 299-6746
BROKER

Pat Swanson
Stream Realty Partners⁠
2 deals$9.2M volume(213) 864-2862
BROKER

Details

SOLD
IMAGE: Michael Bouras & Pat Swanson DATE: 12/01/2021 ADDRESS: 1108 Termino Ave MARKET: Eastside Long Beach ASSET TYPE: Multifamily BUYER: 2007 Chang Family Trust SELLER: DL Investments BROKERS: Michael Bouras (@MichaelBouras) & Pat Swanson (@SwansonApartmentTeam) - Colliers International Greater Los Angeles SALE PRICE: $4,500,000 UNITS: 10 ~ PPU: $450,000 SF: 10,158 ~ PPSF: $443

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55