Miramar Capital Sells Multifamily Asset In Long Beach For $18.8M

The multifamily property located at 1741 Park Avenue in Long Beach was sold by Miramar Capital. The property consists of 52 units with a total square footage of 48,450 and was sold for $18,845,000, resulting in a price per unit of $362,404 and a price per square foot of $389.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,845,000
• Units: 52
• Price per Unit: $362,404
• Square Footage: 48,450
• Price per Square Foot: $389
• Address: 1741 Park Avenue, Long Beach
• Market: Long Beach
• Seller: Miramar Capital
• Brokers: Robert Stepp & Michael Toveg - Stepp Commercial

Robert Stepp and Michael Toveg from Stepp Commercial facilitated the transaction as the brokers representing Miramar Capital in the sale. The successful deal showcases the expertise and negotiation skills demonstrated by the brokers, highlighting their proficiency in navigating and closing significant real estate transactions.