Stepp Commercial Sells Multifamily Property In Long Beach, CA For $6.64M
4114 Elm Avenue, Long Beach, California 90807, United States
$6,640,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 25, 2022
AI
A multifamily property located at 4114 - 4118 Elm Avenue in Long Beach, CA has been sold. The transaction took place on October 26, 2022. The property, consisting of 22 units, was sold for a total price of $6,640,000, resulting in a per unit price of $301,818. The cap rate for this transaction is 3.7%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,640,000
- Address: 4114 - 4118 Elm Avenue, Long Beach, CA
- Market: Long Beach, CA
- Brokers: Robert Stepp, Todd Hawke, and Michael Toveg - Stepp Commercial
The deal was facilitated by Stepp Commercial, with Robert Stepp, Todd Hawke, and Michael Toveg representing the parties involved.
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
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93