Samuel Schifman Of Sarsen Capital Partners Purchases Multifamily Asset In Long Beach For $4.3M
SOLD
$4,300,000
California
See Similar DealsMultiFamily14,150 SF
Sold 10/15/2025
SOLD
Samuel Schifman Of Sarsen Capital Partners Purchases Multifamily Asset In Long Beach For $4.3M
905 Cherry Avenue & 915 Cherry Avenue
See Similar DealsMultiFamily14,150 SF
Sold 10/15/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$303
Total Square Footage:14,150 SF
Transaction Type:Sale
The transaction involved a multifamily asset located at 905 Cherry Avenue & 915 Cherry Avenue in Long Beach. The property comprises 26 units and has a total square footage of 14,150. The sale price for this asset was $4,300,000, resulting in a price per unit of $165,385 and a price per square foot of $304.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,300,000
- Units: 26
- Square Footage: 14,150
- Price Per Unit: $165,385
- Price Per Square Foot: $304
- Buyer: Samuel Schifman - Sarsen Capital Partners
- Seller: FSA Capital LP
- Buyer's Representative: Drew McAllister - NRE Commercial
- Seller's Representative: Nick Kazemi - Marcus & Millichap
The key individuals in this transaction include Samuel Schifman, representing the buyer, Sarsen Capital Partners. The seller, FSA Capital LP, was represented by Nick Kazemi from Marcus & Millichap. Additionally, Drew McAllister from NRE Commercial represented the buyer in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$229,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33
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