Stepp Commercial Sells 16-Unit Multifamily In Rose Park For $6.5M
640 Stanley Avenue, Long Beach, California 90814, United States
$6,500,000
$438/SF
Building Size
14,840 SF
Asset Type
MultiFamily
Closing
Jun 27, 2022
AI
The multifamily property located at 640 Stanley Avenue in Rose Park has been sold for $6,500,000. The transaction took place on June 28, 2022. The property consists of 16 units, resulting in a per-unit price of $406,250.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Address: 640 Stanley Avenue
- Market: Rose Park
- Units: 16
- Price per Unit: $406,250
The sale was facilitated by Robert Stepp and Michael Toveg of Stepp Commercial, who represented the seller in the transaction.
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93