A seven-unit multifamily apartment property in North Long Beach, California has been sold for $2.3 million to a private investor after undergoing renovations that increased its value. This property, located at 122 East 55th Street, is situated on a 0.41-acre plot. The transaction was facilitated by Dan Blackwell and Trey Mitchell from CBRE.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,300,000
• Address: 122 East 55th Street
• Market: Long Beach

The second property involved in the sale is a 16-unit multifamily apartment community near downtown Long Beach. This property, located at 1071 & 1075 Junipero Avenue, was sold for $4.79 million. The desirable 1987 construction of the building, combined with its value-add potential, contributed to its market value. Once again, the transaction was facilitated by Dan Blackwell and Trey Mitchell from CBRE.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $4,790,000
• Address: 1071 & 1075 Junipero Avenue
• Market: Long Beach