Aaron Lujan Acquires Multifamily Property On East 3rd Street In Long Beach For $2.9M
SOLD
$2,925,000
California
See Similar DealsMultiFamily7,500 SF
Sold 03/22/2023
SOLD
Aaron Lujan Acquires Multifamily Property On East 3rd Street In Long Beach For $2.9M
1136 East 3rd Street
See Similar DealsMultiFamily7,500 SF
Sold 03/22/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$390
Total Square Footage:7,500 SF
Transaction Type:Sale
A multifamily property located at 1136 East 3rd Street in Long Beach has been sold for $2,925,000. The property consists of 8 units, with each unit priced at $365,625. The total square footage of the property is 7,500, resulting in a price per square foot of $390.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,925,000
- Units: 8
- Price Per Unit: $365,625
- Square Footage: 7,500
- Price Per Square Foot: $390
Aaron Lujan has purchased the property from Gayle Pritchett. The transaction was facilitated by Morgan Mcmullin from Partners CRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$156,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,391.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,865.99
Annual Debt Service$166,391.91
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