Aaron Lujan Acquires Multifamily Property On East 3rd Street In Long Beach For $2.9M
1136 East 3rd Street
$2,925,000
$390/SF
Building Size
7,500 SF
Asset Type
MultiFamily
Closing
Mar 22, 2023
AI
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.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.42%
Cash-on-Cash
-1.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93