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3656 2nd Street

Caleb Baldwin & Juan Huizar Of Sage Real Estate Complete $2.2M Multifamily Sale In Long Beach
SOLDMultiFamily

Caleb Baldwin & Juan Huizar Of Sage Real Estate Complete $2.2M Multifamily Sale In Long Beach

3656 2nd Street

$2,200,000

$301/SF

Building Size

7,308 SF

Asset Type

MultiFamily

Closing

May 10, 2024

AI

An 8-unit multifamily property at 3656 East 2nd Street in Long Beach was sold for $2.2 million. The property features spacious, charming one-bedroom units with original woodwork, a private rear yard, and garages, located in the desirable Belmont Heights area with a high walk score.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,200,000
  • Units: 8
  • Price Per Unit: $275,000
  • Square Feet: 7,308
  • Price Per Square Foot: $301
  • Address: 3656 East 2nd Street
  • Market: Long Beach

Caleb Baldwin & Juan Huizar of Sage Real Estate represented the parties in this transaction.

Players

Juan Huizar

Sage Real Estate

Broker

$10.4M

vol

4 deals

Broker

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93