Updated Oct 28, 2024
ESG Kullen Acquires Multifamily Property In Long Beach For $43M
2301 East Market Street, Long Beach, California 90805, United States
$43,000,000
Units
158
Asset Type
MultiFamily
Closing
Apr 24, 2022
About this deal
AI
The multifamily property located at 2301 East Market Street in Long Beach has been sold for a total price of $43,000,000. The property consists of 158 units, resulting in a per unit price of $272,151. The transaction took place on April 25, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 2301 East Market Street
- Market: Long Beach
The buyer of the property is ESG Kullen, represented by Eric Granowsky and Tom DelPonti. On the other hand, the seller is Canyon Partners, represented by Joshua Friedman and Mitchell Julis.
On the Map
$43,000,000
MultiFamily
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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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93