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386 Miramar Avenue

Jonathan Morin Sells Multifamily Property At 386 Miramar Avenue Long Beach For $1.85M
SOLDMultiFamily

Jonathan Morin Sells Multifamily Property At 386 Miramar Avenue Long Beach For $1.85M

386 Miramar Avenue

$1,850,000

$388/SF

Building Size

4,764 SF

Asset Type

MultiFamily

Closing

Sep 24, 2025

AI

The property asset involved in the transaction is a multifamily unit located at 386 Miramar Avenue in Long Beach. The transaction was completed for a total amount of $1,850,000, which represents a price per unit of $462,500. The building encompasses a total square footage of 4,764, equating to a price per square foot of $388.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,850,000
  • Units: 4
  • Price per Unit: $462,500
  • Square Footage: 4,764
  • Price per Square Foot: $388
  • Seller: Jonathan Morin
  • Brokers: Will Joseph & Rachel Joseph - Joseph Group
  • Date of Sale: 09/24/2025

The key individuals involved in the transaction are Will Joseph and Rachel Joseph, who represented the seller, Jonathan Morin, in this deal. They are associated with the brokerage, Joseph Group, facilitating the sale of the multifamily property.

Players

Will Joseph

Joseph Group

Broker

$53M

vol

9 deals

Broker
Joseph Group
Joseph GroupBrokerage

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

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93