Updated Sep 11, 2026
Stepp Commercial Brokers Facilitate $11M Sale Of Long Beach Multifamily Property
1722 Coronado Avenue, 222 Grand Avenue, 1033 Stanley Avenue, 1341 Stanley Avenue, 1128 Saint Louis Avenue, 494 East Sunset Street, 496 East Sunset Street, 491 East 51st Street & 495 East 51st Street
$11,000,000
$39/SF
Building Size
31,000 SF
Asset Type
MultiFamily
Closing
Apr 15, 2024
About this deal
AI
A 41-unit Long Beach multifamily portfolio was sold for $11,000,000. The properties included in the portfolio are located at 1722 Coronado Avenue, 222 Grand Avenue, 1033 Stanley Avenue, 1341 Stanley Avenue, 1128 St. Louis Avenue, 494-496 E Sunset Street, and 491-495 E 51st Street. The total square footage of the portfolio is 31,000 with a price per square foot of $355.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Units: 41
- Price per unit: $268,293
- Price per square foot: $355
- Market: Long Beach
Robert Stepp, Travis Traweek, and Buck Traweek from Stepp Commercial facilitated the sale of the multifamily portfolio in Long Beach. The transaction involved representing the buyer and seller in this deal.
On the Map
$11,000,000
$39/SF
MultiFamily
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Long Beach 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93