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1136 East 3rd Street

Aaron Lujan Acquires Multifamily Property On East 3rd Street In Long Beach For $2.9M
SOLDMultiFamily

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

Morgan Mcmullin

Partners CRE

Broker

$84.3M

vol

17 deals

Broker

Market 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

5.42%

Cash-on-Cash

-1.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93