Ryan Parkin Acquires Multifamily Asset From Jerry Scanlan In Long Beach For $7.5M

The properties located at 2067 & 2075 East Broadway in Long Beach consist of a multifamily asset with 36 units. The total square footage of the properties amounts to 19,580, leading to a price per unit of $208,333 and a price per square foot of $383. The transaction concluded at a sale price of $7,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,500,000
• Units: 36
• Square Footage: 19,580
• Price Per Unit: $208,333
• Price Per Square Foot: $383
• Buyer: Ryan Parkin
• Seller: Jerry Scanlan
• Brokers: Ryan Gonzalez & Mark Serrano - Lyon Stahl Investment Real Estate

This transaction involved Ryan Gonzalez and Mark Serrano representing the seller, Jerry Scanlan. The deal was complex, featuring significant deferred maintenance, and the buyer, Ryan Parkin, was sourced through an out-of-market 1031 exchange via an existing client.