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
Long Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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