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Parker Boehle & Talib Hasan Facilitate $3.725M Sale Of Long Beach Multifamily Property

Property Image
SOLD
$3,725,000
Parker Boehle
TH

California

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MultiFamily13,944 SF
Sold
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Property Image
SOLD

Parker Boehle & Talib Hasan Facilitate $3.725M Sale Of Long Beach Multifamily Property

2076 Magnolia Avenue

See Similar Deals
MultiFamily13,944 SF
Sold
Parker Boehle
TH
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$267
Total Square Footage:13944 SF
Transaction Type:Sale

A 22-unit multifamily property located at 2076 Magnolia Avenue in Long Beach was recently sold for $3.73 million. The property spans 13,944 square feet across three buildings and features a mix of studio, one-bedroom, and two-bedroom units, offering a diverse range of living spaces to potential tenants.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,725,000
  • Units: 22
  • Price Per Unit: $169,318
  • Square Feet: 13,944
  • Price Per Square Foot: $267
  • Acres: 0.44
  • Market: Long Beach
  • Buyer's Rep: Parker Boehle - NorthMarq
  • Seller's Rep: Talib Hasan - GTS Realty

The transaction was facilitated by Parker Boehle from NorthMarq, representing the buyer, and Talib Hasan from GTS Realty, representing the seller. Both parties played instrumental roles in ensuring the successful sale of the multifamily property, showcasing their expertise and professionalism in the real estate market.

Players

Parker Boehle
NorthMarq
Parker Boehle
6 deals$20.1M volume
BROKER
TH
Talib Hasan
1 deal$3.7M volume(323) 496-9563
BROKER

Details

SOLD
IMAGE: Parker Boehle DATE: 05/01/2024 ADDRESS: 2076 Magnolia Avenue MARKET: Long Beach ASSET TYPE: Multifamily ~ ACRES: 0.44 BUYER'S REP: Parker Boehle (@PBoehle) - NorthMarq (@Northmarq) SELLER'S REP: Talib Hasan - GTS Realty SALE PRICE: $3,725,000 UNITS: 22 ~ PPU: $169,318 SF: 13,944 ~ PPSF: $267 NOTE: A 22-unit multifamily property at 2076 Magnolia Avenue in Long Beach sold for $3.73 million. The well-maintained property spans three buildings and offers a mix of studio, one-bedroom, and two-bedroom units.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$198,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,234.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,658.40
Annual Debt Service$211,900.80