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Matthew Wenzel Of Marcus & Millichap Brokers $2.29M Multifamily Sale In Long Beach
SOLD
$2,290,000
California
See Similar DealsMultiFamily8,100 SF
Sold 04/23/2024
SOLD
Matthew Wenzel Of Marcus & Millichap Brokers $2.29M Multifamily Sale In Long Beach
1115 East Artesia Boulevard
See Similar DealsMultiFamily8,100 SF
Sold 04/23/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$282
Total Square Footage:8,100 SF
Transaction Type:Sale
In Long Beach, a multifamily property located at 1115 East Artesia Boulevard was sold for $2,290,000. The property spans 8,100 square feet, resulting in a price per square foot of $283.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,290,000
- Address: 1115 East Artesia Boulevard
- Market: Long Beach
The transaction of the multifamily property at 1115 East Artesia Boulevard was facilitated by Matthew Wenzel, who represented the deal on behalf of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$122,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,135.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,855.77
Annual Debt Service$130,269.22
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