Larry Guesno Purchases Multifamily Asset From Erik Lutke In Long Beach For $5.2M
SOLD
$5,203,327
California
See Similar DealsMultiFamily11,346 SF
Sold 08/06/2025
SOLD
Larry Guesno Purchases Multifamily Asset From Erik Lutke In Long Beach For $5.2M
845 East 6th Street
See Similar DealsMultiFamily11,346 SF
Sold 08/06/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$458
Total Square Footage:11,346 SF
Transaction Type:Sale
The property at 845 East 6th Street in the Long Beach market is a multifamily asset consisting of 24 units. The property has a total square footage of 11,346 and sold for a transaction amount of $5,203,327, resulting in a price per unit of $216,805 and a price per square foot of $458.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,203,327
- Address: 845 East 6th Street
- Market: Long Beach
- Units: 24
- Square Footage: 11,346
- Price Per Unit: $216,805
- Price Per Square Foot: $458
- Buyer: Larry Guesno
- Seller: Erik Lutke
- Brokers: Robert Stepp & Michael Toveg - Stepp Commercial
Key individuals in this transaction include the buyer, Larry Guesno, and seller, Erik Lutke. The brokerage representatives involved in facilitating this deal are Robert Stepp and Michael Toveg from Stepp Commercial.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,510.78
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,486.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,666.42
Annual Debt Service$295,997.10
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