Diana Donaldson Purchases Multifamily Property In Long Beach From Ashwin Mahtani For $3.29M

A 12-unit multifamily property located at 30 West 49th Street in Long Beach has successfully closed for $3,292,500. The total square footage of the asset is 8,692, resulting in a price per unit of $274,375 and a price per square foot of $378.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,292,500
• Buyer: Diana Donaldson
• Seller: Ashwin Mahtani
• Units: 12
• Market: Long Beach
• SF: 8,692
• PPU: $274,375
• PPSF: $378

The successful transaction involved brokers Jignesh Patel, Juan Huizar, and Cody Charnell from Sage Real Estate, who represented both the buyer and seller. The property was acquired as part of a 1031 exchange, with the buyer completing the purchase all-cash, facilitating a smooth closing process. The parties aimed to finalize the deal before year-end, which was achieved through effective coordination and underwriting.