Catherine Huh Acquires 5-Unit Multifamily Property In Alamitos Beach, Long Beach For $1.5M

The multifamily property located at 1631 E. Florida Street in Alamitos Beach, Long Beach has been sold in a recent transaction. The sale, which took place on 03/09/2021, involved a total of 5 units within the property. The buyer, Catherine Huh, acquired the property from the seller, Bayati Trust, for a sale price of $1,525,000. This translates to a price per unit (PPU) of $254,000. The total square footage of the property is 3,567, resulting in a price per square foot (PPSF) of $427. The Gross Rent Multiplier (GRM) for this transaction is 14.4x, and the Capitalization Rate (CAP) is 4.38%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,525,000
• Units: 5
• Price per Unit (PPU): $254,000
• Square Footage: 3,567
• Price per Square Foot (PPSF): $427
• Gross Rent Multiplier (GRM): 14.4x
• Capitalization Rate (CAP): 4.38%

Shane Young of The Young Group represented both the buyer, Catherine Huh, and the seller, Bayati Trust, in this transaction.