CBRE Acquires Four Long Beach Multifamily Properties For $12.152M

CBRE has acquired four multifamily properties in Long Beach, California, totaling $12.152 million. The properties are located at 927 Daisy Avenue, 908 Roswell Avenue, 1512 E. Florida Street, and 477 E. South Street. These properties comprise a total of 45 units with a price per unit of $270,044. The total square footage is 35,114, resulting in a price per square foot of $346.

Summary of transation details

• Property Type: MultiFamily
• Transaction Amount: $12,152,000
• Address: 927 Daisy Avenue, 908 Roswell Avenue, 1512 East Florida Street & 477 East South Street
• Market: Long Beach
• Units: 45
• Price per Unit: $270,044
• Square Footage: 35,114
• Price per Square Foot: $346

The acquisitions were made on behalf of a San Diego-based exchange buyer. CBRE's Multifamily SoCal Team strategically identified these properties, both on- and off-market, aligning with the investor's criteria for short-term and long-term investment objectives. The deal was facilitated by CBRE brokers Daniel Blackwell and Trey Mitchell.