M.T. Alden Scott, Ph.D. Acquires Bluff Heights Multifamily For $16.75M With Travis Traweek As Buyer's Rep

The transaction involves two parcels located at 425 Coronado Avenue and 434 Obispo Avenue in Long Beach. The properties are classified as MultiFamily assets. They have a total of 49 units, which include 36 one-bedroom/one-bath units, 9 two-bedroom/two-bath units, and 4 studio units. The total square footage of the properties is 46,399, with the sale priced at $16,750,000, yielding a price per unit of $341,837 and a price per square foot of $361.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $16,750,000
• Buyer: M.T. Alden Scott, Ph.D.
• Seller: Paul Fuhrman
• Buyer's Representative: Travis Traweek - Traweek Investments CRE
• Units: 49
• Square Footage: 46,399
• Price Per Unit: $341,837
• Price Per Square Foot: $361

This deal showcases the involvement of M.T. Alden Scott, Ph.D., as the buyer, who was interested in the unique opportunity presented by the properties in Bluff Heights. The buyer is supported by representative Travis Traweek of Traweek Investments CRE. Notably, the purchase aligns with Long Beach's growth trajectory as a significant employment hub in the aerospace and defense sectors, indicating the buyer's strategic investment rationale.