Golden Bee Properties Acquires Multifamily Asset In Long Beach, CA For $37.05M
SOLD
$37,050,000
California
See Similar DealsMultiFamily114,622 SF
Sold 02/17/2022
SOLD
Golden Bee Properties Acquires Multifamily Asset In Long Beach, CA For $37.05M
5565 Ackerfield Avenue, Long Beach, California 90805, United States
See Similar DealsMultiFamily114,622 SF
Sold 02/17/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$323
Total Square Footage:114,622 SF
Transaction Type:Sale
Ackerfield Ave in Long Beach, California, witnessed a significant sale transaction in the multifamily sector. The property at 5565 & 5700 Ackerfield Ave was acquired by Jonathan Zadok and David Berneman of Golden Bee Properties. This marks the largest acquisition to date for Golden Bee Properties' CalNeva Workforce Housing Fund. The sale price for the property was recorded at $37,050,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,050,000
- Units: 143
- Price per Unit: $259,091
- Square Footage: 114,622
- Price per Square Foot: $323
The acquisition of Ackerfield Ave is a significant move for Golden Bee Properties, showcasing their continued growth in the market. Over the next three years, the property is set to receive $5 million in capital improvements, further enhancing its value and appeal. The investment made by Jonathan Zadok and David Berneman demonstrates their confidence in the potential of this asset and their commitment to expanding their real estate portfolio.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,975,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$131,630.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,635.90
Annual Debt Service$2,107,630.82
Is there something missing? Send suggestions