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
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