Stepp Commercial Brokers $4.05M Sale Of 11-unit Long Beach Multifamily On E. Florida
2104 East Florida Street, Long Beach, CA, USA
$4,050,000
$664/SF
Building Size
6,094 SF
Asset Type
MultiFamily
Closing
Jun 22, 2021
AI
The 11-unit multifamily property located at 2104 E. Florida in Long Beach has been sold for $4,050,000. The sale was facilitated by brokers Robert Stepp & Todd Hawke from Stepp Commercial. This property is situated in the Long Beach market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,050,000
- Address: 2104 E. Florida
- Market: Long Beach
- Brokers: Robert Stepp & Todd Hawke - Stepp Commercial
- Units: 11
- Price Per Unit: $368,000
The involvement of Robert Stepp & Todd Hawke from Stepp Commercial played a significant role in the successful completion of this sale.
Players
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
3.92%
Cash-on-Cash
-1.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93